Goldman Sachs Downgrades Duke Energy to “Neutral”; Lowers EPS Estimates (DUK)
Goldman Sachs reported on Wednesday that they are downgrading Duke Energy Corp (DUK). The analysts cited the energy company’s current valuation as a primary reason for the downgrade.
The analysts downgraded DUK from “Buy” to “Neutral” with a price target of $72. This valuation suggests a slight downside to Tuesday’s closing price of $72.62.
Goldman Sachs also cut Duke Energy’s 2013 and 2014 earnings forecast. Fiscal 2013 EPS estimates were lowered from $4.40 to $4.32 and fiscal 2014 EPS estimates were cut from $4.73 to $4.66.
Duke Energy shares were inactive during pre-market trading on Wednesday. The stock is up +13.82% year-to-date.
The Bottom Line
Shares of Duke Energy (DUK) have a dividend yield of 4.21% based on last night’s closing price of $72.62 and the company’s annualized dividend payout of $3.06 per share.
Duke Energy Corp (DUK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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