Duke Energy (NYSE:DUK) Shares Gap Up – Still a Buy?

Shares of Duke Energy Co. (NYSE:DUK) gapped up before the market opened on Thursday . The stock had previously closed at $120.39, but opened at $123.00. Duke Energy shares last traded at $124.23, with a volume of 4,135,379 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DUK. UBS Group lifted their price target on Duke Energy from $123.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Scotiabank boosted their target price 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. Jefferies Financial Group increased their price target on shares of Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on shares of Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Finally, Guggenheim boosted their target price on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Duke Energy has a consensus rating of “Moderate Buy” and an average target price of $123.87.

Duke Energy Stock Performance

The firm has a market cap of $92.40 billion, a P/E ratio of 20.83, a PEG ratio of 2.79 and a beta of 0.39. 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 stock’s 50-day moving average is $116.33 and its 200 day moving average is $113.88.

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

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 14th were issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Friday, February 14th. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

Institutional Investors Weigh In On Duke Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DUK. Vanguard Group Inc. raised its stake in shares of Duke Energy by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 72,885,939 shares of the utilities provider’s stock valued at $7,852,731,000 after purchasing an additional 779,054 shares during the period. Massachusetts Financial Services Co. MA raised its position in Duke Energy by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,097,796 shares of the utilities provider’s stock valued at $1,949,857,000 after buying an additional 124,863 shares during the last quarter. Geode Capital Management LLC lifted its stake in Duke Energy by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 17,873,788 shares of the utilities provider’s stock valued at $1,930,833,000 after acquiring an additional 385,612 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Duke Energy by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,562,545 shares of the utilities provider’s stock worth $922,529,000 after acquiring an additional 135,665 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Duke Energy by 4.4% during the 4th quarter. Royal Bank of Canada now owns 8,503,503 shares of the utilities provider’s stock worth $916,168,000 after acquiring an additional 357,967 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Company Profile

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.