Duke Energy (NYSE:DUK) Sets New 52-Week High on Strong Earnings

Duke Energy Co. (NYSE:DUK) hit a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $101.25 and last traded at $100.67, with a volume of 190288 shares. The stock had previously closed at $100.42.

The utilities provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.39 by $0.05. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.31 billion. Duke Energy had a return on equity of 8.93% and a net margin of 9.78%. Duke Energy’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share.

Analysts Set New Price Targets

A number of research firms recently issued reports on DUK. BMO Capital Markets lifted their price objective on Duke Energy from $104.00 to $108.00 and gave the company an “outperform” rating in a research report on Wednesday. Wells Fargo & Company reduced their price objective on Duke Energy from $103.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Scotiabank reduced their price objective on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Evercore ISI raised Duke Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $90.00 to $108.00 in a research report on Tuesday, January 23rd. Finally, Barclays lifted their price objective on Duke Energy from $99.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Duke Energy currently has an average rating of “Hold” and a consensus target price of $101.31.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 3,000 shares of Duke Energy stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $92.57, for a total transaction of $277,710.00. Following the sale, the executive vice president now directly owns 14,213 shares of the company’s stock, valued at $1,315,697.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Duke Energy

A number of institutional investors have recently added to or reduced their stakes in DUK. Dorsey & Whitney Trust CO LLC grew its position in Duke Energy by 3.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,702 shares of the utilities provider’s stock worth $455,000 after acquiring an additional 141 shares during the last quarter. Wilkins Investment Counsel Inc. increased its stake in shares of Duke Energy by 24.8% in the first quarter. Wilkins Investment Counsel Inc. now owns 5,145 shares of the utilities provider’s stock valued at $498,000 after buying an additional 1,024 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of Duke Energy by 3.1% in the first quarter. HBK Sorce Advisory LLC now owns 11,141 shares of the utilities provider’s stock valued at $1,077,000 after buying an additional 339 shares during the last quarter. TBH Global Asset Management LLC grew its holdings in Duke Energy by 6.8% during the 1st quarter. TBH Global Asset Management LLC now owns 6,182 shares of the utilities provider’s stock worth $598,000 after acquiring an additional 392 shares during the last quarter. Finally, D Orazio & Associates Inc. acquired a new stake in Duke Energy in the 1st quarter valued at about $204,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Stock Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.74 and a quick ratio of 0.49. The stock’s 50 day simple moving average is $96.19 and its two-hundred day simple moving average is $94.42. The company has a market capitalization of $79.47 billion, a P/E ratio of 29.02, a P/E/G ratio of 2.67 and a beta of 0.45.

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.