KeyCorp Lowers Duke Energy (NYSE:DUK) to Sector Weight

KeyCorp downgraded shares of Duke Energy (NYSE:DUK) from an overweight rating to a sector weight rating in a report issued on Tuesday morning, Marketbeat reports. KeyCorp also issued estimates for Duke Energy’s Q3 2024 earnings at $1.68 EPS, Q4 2024 earnings at $1.60 EPS, FY2024 earnings at $5.98 EPS, FY2025 earnings at $6.34 EPS, FY2027 earnings at $7.13 EPS and FY2028 earnings at $7.62 EPS.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company boosted their price target on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Bank of America boosted their target price on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Evercore ISI raised their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on Duke Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $138.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.85.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $119.01 on Tuesday. The stock has a market cap of $91.85 billion, a price-to-earnings ratio of 29.90, a P/E/G ratio of 3.06 and a beta of 0.46. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. Duke Energy has a twelve month low of $86.61 and a twelve month high of $121.25. The company’s fifty day moving average is $115.40 and its 200 day moving average is $107.25.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Duke Energy will post 5.97 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $1.045 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.51%. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Buying and Selling

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Strategic Wealth Investment Group LLC increased its stake in Duke Energy by 20.6% in the 3rd quarter. Strategic Wealth Investment Group LLC now owns 81,446 shares of the utilities provider’s stock valued at $9,466,000 after buying an additional 13,886 shares during the last quarter. Orrstown Financial Services Inc. bought a new position in shares of Duke Energy in the third quarter valued at approximately $217,000. Arbor Investment Advisors LLC increased its position in shares of Duke Energy by 174.7% during the third quarter. Arbor Investment Advisors LLC now owns 11,141 shares of the utilities provider’s stock valued at $1,285,000 after acquiring an additional 7,086 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Duke Energy by 2.3% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 8,495 shares of the utilities provider’s stock worth $979,000 after acquiring an additional 187 shares during the period. Finally, Concord Wealth Partners boosted its position in Duke Energy by 3.8% in the third quarter. Concord Wealth Partners now owns 5,678 shares of the utilities provider’s stock worth $655,000 after purchasing an additional 207 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

About Duke Energy

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.