Morgan Stanley analyst Stephen Byrd maintained a Hold rating on Duke Energy (DUK) today and set a price target of $98.00. The company’s shares closed last Tuesday at $92.12.
According to TipRanks.com, Byrd is a 4-star analyst with an average return of 4.8% and a 56.5% success rate. Byrd covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Public Service Enterprise, and American Electric Power.
Currently, the analyst consensus on Duke Energy is a Moderate Buy with an average price target of $92.14, representing a 0.0% upside. In a report issued on October 15, Credit Suisse also downgraded the stock to Hold with a $93.00 price target.
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Based on Duke Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.42 billion and GAAP net loss of $802 million. In comparison, last year the company earned revenue of $5.87 billion and had a net profit of $832 million.
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Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio. The Gas Utilities and Infrastructure segment focuses on natural gas operations primarily through the regulated public utilities of Piedmont and Duke Energy Ohio. The Commercial Renewables segment acquires, develops, builds, operates, and owns wind and solar renewable generation throughout the continental United States. The company was founded in 1904 and is headquartered in Charlotte, NC.
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