Duke Energy Corporation (NYSE:DUK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Duke Energy’s hefty investment plans for the next five years is expected to improve its business by generating cleaner energy and bolstering its renewable asset base. The company also aims at modernization of its existing grid system, to offer better services to customers. To this end, Duke Energy plans to strengthen its energy delivery system by investing $25 billion over the next 10 years to create a more modern, smarter energy grid. The company outperformed the broader industry in past one year. However, potential volatility in market prices of fuel, electricity and other renewable energy commodities may create operational risks for Duke Energy. Duke Energy also faces challenges from severe weather conditions and natural calamities like hurricanes, which may result in breakdown and damage its infrastructure. Adverse outcome from pending regulatory cases also pose threats to Duke Energy’s earnings growth.”
A number of other equities research analysts have also commented on the company. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $87.00 price target on shares of Duke Energy Corporation in a research report on Wednesday, October 4th. Morgan Stanley upped their price target on Duke Energy Corporation from $89.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. KeyCorp reiterated a “hold” rating on shares of Duke Energy Corporation in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $87.00 price target on shares of Duke Energy Corporation in a research report on Tuesday, August 29th. Finally, BidaskClub upgraded Duke Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $83.31.
Duke Energy Corporation (NYSE:DUK) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. The firm had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that Duke Energy Corporation will post $4.60 earnings per share for the current year.
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In other Duke Energy Corporation news, EVP Douglas F. Esamann sold 5,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $86.22, for a total value of $431,100.00. Following the transaction, the executive vice president now owns 50,316 shares in the company, valued at $4,338,245.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Fulton Bank N.A. boosted its holdings in Duke Energy Corporation by 2.4% in the third quarter. Fulton Bank N.A. now owns 41,223 shares of the utilities provider’s stock worth $3,459,000 after acquiring an additional 982 shares in the last quarter. Eqis Capital Management Inc. boosted its holdings in Duke Energy Corporation by 7.2% in the third quarter. Eqis Capital Management Inc. now owns 12,544 shares of the utilities provider’s stock worth $1,053,000 after acquiring an additional 847 shares in the last quarter. Perpetual Ltd boosted its holdings in Duke Energy Corporation by 12.9% in the second quarter. Perpetual Ltd now owns 11,400 shares of the utilities provider’s stock worth $953,000 after acquiring an additional 1,300 shares in the last quarter. Bogart Wealth LLC boosted its holdings in Duke Energy Corporation by 35.9% in the second quarter. Bogart Wealth LLC now owns 22,726 shares of the utilities provider’s stock worth $1,900,000 after acquiring an additional 6,008 shares in the last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in Duke Energy Corporation in the second quarter worth approximately $257,000. Institutional investors and hedge funds own 56.22% of the company’s stock.
Duke Energy Corporation Company Profile
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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