Duke Energy (NYSE:DUK) Hits New 1-Year Low – What’s Next?

by · The Markets Daily

Duke Energy Corporation (NYSE:DUK – Get Free Report)’s stock price hit a new 52-week low on Thursday . The company traded as low as $113.82 and last traded at $114.0950, with a volume of 764966 shares traded. The stock had previously closed at $114.17.

More Duke Energy News

Here are the key news stories impacting Duke Energy this week:

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DUK shares. Mizuho set a $136.00 price objective on shares of Duke Energy in a research note on Wednesday, August 5th. Barclays lowered their price target on Duke Energy from $140.00 to $132.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Wall Street Zen downgraded Duke Energy from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Truist Financial lowered their price objective on Duke Energy from $138.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.56.

Get Our Latest Report on DUK

Duke Energy Stock Performance

The firm has a market capitalization of $88.85 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.71 and a beta of 0.37. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.66. The company’s fifty day moving average price is $122.55 and its two-hundred day moving average price is $125.46.

Duke Energy (NYSE:DUK – Get Free Report) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. Duke Energy’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts expect that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were given a $1.085 dividend. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 14th. This represents a $4.34 annualized dividend and a dividend yield of 3.8%. Duke Energy’s dividend payout ratio is 65.17%.

Institutional Investors Weigh In On Duke Energy

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Duke Energy by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock worth $2,266,675,000 after purchasing an additional 230,375 shares during the period. Franklin Resources Inc. grew its stake in Duke Energy by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after buying an additional 954,907 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Duke Energy in the second quarter worth $605,680,000. Janus Henderson Group PLC increased its position in shares of Duke Energy by 5,254.4% in the first quarter. Janus Henderson Group PLC now owns 2,735,816 shares of the utilities provider’s stock worth $358,227,000 after acquiring an additional 2,684,721 shares in the last quarter. Finally, Capital Wealth Planning LLC raised its stake in shares of Duke Energy by 9.6% in the 4th quarter. Capital Wealth Planning LLC now owns 2,678,696 shares of the utilities provider’s stock valued at $314,250,000 after acquiring an additional 234,810 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

About Duke Energy

(Get Free Report)

Duke Energy Corporation is an electric and natural gas utility holding company headquartered in Charlotte, North Carolina. The company generates, transmits, distributes and sells electricity, with a generation portfolio that includes natural gas, nuclear, coal, hydroelectric and renewable energy resources. It also operates natural gas distribution businesses and provides related energy services.

Duke Energy’s regulated electric utilities serve residential, commercial and industrial customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.

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