Guggenheim Forecasts Strong Price Appreciation for Duke Energy (NYSE:DUK) Stock

Duke Energy (NYSE:DUK) had its target price boosted by equities research analysts at Guggenheim from $132.00 to $135.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s price objective indicates a potential upside of 17.60% from the company’s current price.

Several other brokerages have also recently issued reports on DUK. Morgan Stanley reduced their price target on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. BMO Capital Markets upped their price target on Duke Energy from $119.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised their price objective on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Scotiabank increased their price target on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.57.

Duke Energy Stock Down 0.4 %

Shares of NYSE:DUK opened at $114.79 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67. The firm has a fifty day moving average of $111.64 and a 200 day moving average of $113.22. Duke Energy has a 52-week low of $92.75 and a 52-week high of $121.25. The firm has a market capitalization of $89.13 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.05. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. As a group, research analysts anticipate that Duke Energy will post 6.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Duke Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DUK. Vermillion Wealth Management Inc. bought a new stake in Duke Energy in the fourth quarter worth $27,000. Legacy Investment Solutions LLC purchased a new position in Duke Energy in the 3rd quarter worth about $29,000. Parkworth Wealth Management Inc. bought a new stake in Duke Energy during the 4th quarter valued at about $28,000. WealthTrak Capital Management LLC bought a new position in Duke Energy in the 4th quarter worth about $30,000. Finally, Rakuten Securities Inc. increased its position in shares of Duke Energy by 1,500.0% during the fourth quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 270 shares during the period. 65.31% of the stock is currently owned by hedge funds and other 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.