Duke Energy (NYSE:DUK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Duke Energy boasts a robust five-year capital plan and currently plans to invest about $37 billion in growth projects over the 2017-2021 time frame. Going forward, the company’s five-year plan also includes investment of $3.3 billion in highly-efficient natural gas-fired combined-cycle plants. The company's loss was narrower than the broader industry's loss in the last 12 months. Potential volatility in market prices of fuel, electricity and other renewable energy commodities could create operational risks for the company. Duke Energy also faces challenges from severe weather conditions and natural calamities like hurricanes, which may result in breakdown and damage its infrastructure. This may interrupt the operations of the company and affect its performance.”
Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of Duke Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Guggenheim reissued a “buy” rating and set a $96.00 target price on shares of Duke Energy in a research note on Wednesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and set a $87.00 target price on shares of Duke Energy in a research note on Tuesday, November 7th. UBS Group started coverage on shares of Duke Energy in a research note on Friday, February 2nd. They set a “buy” rating and a $91.00 target price for the company. Finally, Morgan Stanley lifted their target price on shares of Duke Energy from $95.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Duke Energy has a consensus rating of “Hold” and a consensus target price of $87.18.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Duke Energy by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 50,043,241 shares of the utilities provider’s stock valued at $4,183,115,000 after purchasing an additional 1,572,216 shares during the last quarter. BlackRock Inc. raised its holdings in Duke Energy by 0.9% in the 4th quarter. BlackRock Inc. now owns 45,499,220 shares of the utilities provider’s stock worth $3,826,940,000 after acquiring an additional 424,604 shares during the period. Northern Trust Corp raised its holdings in Duke Energy by 0.9% in the 2nd quarter. Northern Trust Corp now owns 9,063,623 shares of the utilities provider’s stock worth $757,629,000 after acquiring an additional 84,730 shares during the period. Legal & General Group Plc raised its holdings in Duke Energy by 3.4% in the 3rd quarter. Legal & General Group Plc now owns 5,039,085 shares of the utilities provider’s stock worth $422,872,000 after acquiring an additional 164,381 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Duke Energy by 3.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,553,139 shares of the utilities provider’s stock worth $298,855,000 after acquiring an additional 128,752 shares during the period. 57.13% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This story was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://www.com-unik.info/2018/02/13/duke-energy-duk-upgraded-by-zacks-investment-research-to-hold.html.
About Duke Energy
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Duke Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Energy and related companies with MarketBeat.com's FREE daily email newsletter.