Morgan Stanley Cuts Duke Energy (NYSE:DUK) Price Target to $98.00

Duke Energy (NYSE:DUK) had its price objective decreased by Morgan Stanley from $103.00 to $98.00 in a research report report published on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

DUK has been the subject of a number of other research reports. Mizuho upped their price target on Duke Energy from $89.00 to $99.00 and gave the company a neutral rating in a research report on Friday, April 5th. Barclays raised their price target on Duke Energy from $99.00 to $100.00 and gave the stock an overweight rating in a research note on Monday, April 15th. KeyCorp upped their price objective on shares of Duke Energy from $107.00 to $112.00 and gave the stock an overweight rating in a report on Monday, May 20th. Scotiabank cut their target price on shares of Duke Energy from $101.00 to $94.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. Finally, Bank of America raised their price objective on shares of Duke Energy from $96.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $102.33.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $99.96 on Monday. Duke Energy has a one year low of $83.06 and a one year high of $104.87. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.50. The firm has a market capitalization of $77.15 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.75 and a beta of 0.45. The company’s fifty day moving average price is $101.12 and its 200-day moving average price is $97.36.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.05. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. The business had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.31 billion. During the same period last year, the business earned $1.20 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Duke Energy will post 5.97 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 17th were paid a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Thursday, May 16th. Duke Energy’s payout ratio is 103.02%.

Insider Transactions at Duke Energy

In other Duke Energy news, CEO Lynn J. Good sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the completion of the sale, the chief executive officer now directly owns 437,464 shares in the company, valued at approximately $45,190,031.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Duke Energy news, Director E Marie Mckee sold 1,695 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total transaction of $173,415.45. Following the transaction, the director now owns 4 shares in the company, valued at approximately $409.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lynn J. Good sold 15,000 shares of Duke Energy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the completion of the sale, the chief executive officer now owns 437,464 shares of the company’s stock, valued at $45,190,031.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,695 shares of company stock valued at $2,750,815. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Duke Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in DUK. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in Duke Energy by 3.3% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,390 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 109 shares during the period. Breakwater Capital Group increased its holdings in Duke Energy by 3.9% in the 1st quarter. Breakwater Capital Group now owns 2,912 shares of the utilities provider’s stock worth $282,000 after acquiring an additional 109 shares in the last quarter. First Command Advisory Services Inc. raised its position in Duke Energy by 1.4% during the fourth quarter. First Command Advisory Services Inc. now owns 7,949 shares of the utilities provider’s stock worth $771,000 after acquiring an additional 110 shares during the period. Chemung Canal Trust Co. lifted its holdings in Duke Energy by 0.8% during the fourth quarter. Chemung Canal Trust Co. now owns 14,483 shares of the utilities provider’s stock valued at $1,405,000 after purchasing an additional 113 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Duke Energy by 9.0% during the first quarter. Venturi Wealth Management LLC now owns 1,380 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.