Duke Energy Co. (NYSE:DUK) Sees Significant Increase in Short Interest

by · The Cerbat Gem

Duke Energy Co. (NYSE:DUK – Get Free Report) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 10,490,000 shares, a growth of 10.9% from the October 31st total of 9,460,000 shares. Based on an average daily trading volume, of 3,360,000 shares, the short-interest ratio is currently 3.1 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DUK shares. Jefferies Financial Group began coverage on Duke Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $138.00 price target on the stock. Morgan Stanley lowered their price target on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Scotiabank raised their price objective on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. KeyCorp cut shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI upped their price objective on Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and a consensus target price of $121.69.

Get Our Latest Analysis on Duke Energy

Institutional Investors Weigh In On Duke Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Duke Energy in the third quarter valued at approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in Duke Energy during the 3rd quarter valued at $30,000. Fortitude Family Office LLC boosted its position in Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares during the period. Olistico Wealth LLC acquired a new stake in shares of Duke Energy during the 2nd quarter worth about $30,000. Finally, Sachetta LLC grew its stake in Duke Energy by 41.9% in the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after buying an additional 96 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Shares of DUK opened at $113.64 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. Duke Energy has a 12 month low of $90.09 and a 12 month high of $121.25. The firm has a fifty day simple moving average of $115.09 and a 200 day simple moving average of $110.44. The stock has a market capitalization of $87.78 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 3.04 and a beta of 0.47.

Duke Energy (NYSE:DUK – Get Free Report) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the firm posted $1.94 EPS. Duke Energy’s revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that Duke Energy will post 5.96 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio is currently 76.84%.

Duke Energy Company Profile

(Get Free Report)

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.

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