Duke Energy (NYSE:DUK) Sets New 52-Week High – Here’s What Happened

Duke Energy Co. (NYSE:DUK) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $122.39 and last traded at $121.00, with a volume of 573513 shares changing hands. The stock had previously closed at $119.41.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DUK. BMO Capital Markets raised their price objective on Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Morgan Stanley upped their target price on Duke Energy from $123.00 to $128.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Guggenheim raised their price target on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. UBS Group boosted their target price on shares of Duke Energy from $123.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Jefferies Financial Group lifted their price target on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.87.

Duke Energy Price Performance

The company has a debt-to-equity ratio of 1.52, a current ratio of 0.67 and a quick ratio of 0.44. The company has a market cap of $94.90 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48. The stock has a fifty day moving average price of $115.17 and a 200-day moving average price of $113.68.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share for the quarter, beating 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, equities analysts expect that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 14th were paid a dividend of $1.045 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $4.18 annualized dividend and a dividend yield of 3.42%. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

Institutional Investors Weigh In On Duke Energy

Institutional investors have recently added to or reduced their stakes in the company. Groupama Asset Managment acquired a new position in Duke Energy in the third quarter worth about $2,537,000. ExodusPoint Capital Management LP bought a new stake in Duke Energy during the fourth quarter worth about $163,819,000. Zimmer Partners LP acquired a new position in shares of Duke Energy in the 3rd quarter worth approximately $166,263,000. Assenagon Asset Management S.A. raised its position in Duke Energy by 155.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,873,321 shares of the utilities provider’s stock valued at $201,832,000 after purchasing an additional 1,138,979 shares during the last quarter. Finally, Capital Wealth Planning LLC raised its holdings in shares of Duke Energy by 116.5% in the fourth quarter. Capital Wealth Planning LLC now owns 2,065,344 shares of the utilities provider’s stock valued at $222,520,000 after buying an additional 1,111,581 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

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.