Traders Are Bearish Duke Energy Corporation (DUK) After The Stock Formed Ascending Triangle

April 17, 2018 - By Ellis Scott

Duke Energy Corporation (NYSE:DUK) Logo

Investors sentiment increased to 1.13 in Q4 2017. Its up 0.06, from 1.07 in 2017Q3. It is positive, as 46 investors sold Duke Energy Corporation shares while 352 reduced holdings. 100 funds opened positions while 348 raised stakes. 389.71 million shares or 0.49% less from 391.64 million shares in 2017Q3 were reported.
Natixis holds 12,247 shares. Moreover, Destination Wealth Management has 0.02% invested in Duke Energy Corporation (NYSE:DUK) for 4,264 shares. Amer Natl Registered Advisor Inc owns 14,363 shares. Essex Investment Co Ltd Liability Co reported 0.03% in Duke Energy Corporation (NYSE:DUK). Trust Department Mb Natl Bank N A stated it has 0% in Duke Energy Corporation (NYSE:DUK). Synovus holds 0.25% or 167,402 shares. 4,342 are owned by Yhb Advisors. New Mexico Educational Retirement Board stated it has 67,310 shares or 0.21% of all its holdings. Crestwood Grp has invested 0.03% of its portfolio in Duke Energy Corporation (NYSE:DUK). First Bankshares Trust Of Newtown invested 0.39% of its portfolio in Duke Energy Corporation (NYSE:DUK). 51,500 were accumulated by Pensionfund Dsm Netherlands. Shelton Mngmt has invested 0.09% in Duke Energy Corporation (NYSE:DUK). Fiduciary Communications has invested 0.03% of its portfolio in Duke Energy Corporation (NYSE:DUK). Dt Ltd Liability Co holds 27,285 shares or 0.36% of its portfolio. Ntv Asset Limited Co holds 14,959 shares.

The stock of Duke Energy Corporation (DUK) formed an ascending triangle with $72.98 target or 7.00 % below today’s $78.47 share price. The 7 months triangle pattern indicates high risk for the $56.65 billion company. If the $72.98 price target is reached, the company will be worth $3.97 billion less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.65% or $0.51 during the last trading session, reaching $78.47. About 769,899 shares traded. Duke Energy Corporation (NYSE:DUK) has declined 6.87% since April 17, 2017 and is downtrending. It has underperformed by 18.42% the S&P500.

Analysts await Duke Energy Corporation (NYSE:DUK) to report earnings on May, 8. They expect $1.13 EPS, up 8.65 % or $0.09 from last year’s $1.04 per share. DUK’s profit will be $815.73M for 17.36 P/E if the $1.13 EPS becomes a reality. After $0.94 actual EPS reported by Duke Energy Corporation for the previous quarter, Wall Street now forecasts 20.21 % EPS growth.

Duke Energy Corporation (NYSE:DUK) Ratings Coverage

Among 12 analysts covering Duke Energy Corp (NYSE:DUK), 5 have Buy rating, 2 Sell and 5 Hold. Therefore 42% are positive. Duke Energy Corp has $96 highest and $77.0 lowest target. $85.64’s average target is 9.14% above currents $78.47 stock price. Duke Energy Corp had 35 analyst reports since October 18, 2017 according to SRatingsIntel. Guggenheim maintained it with “Buy” rating and $96.0 target in Tuesday, January 2 report. The firm has “Hold” rating by SunTrust given on Monday, April 9. The rating was maintained by Morgan Stanley with “Equal-Weight” on Monday, November 13. SunTrust maintained the stock with “Hold” rating in Monday, April 16 report. On Tuesday, January 23 the stock rating was upgraded by Credit Suisse to “Outperform”. On Monday, February 26 the stock rating was upgraded by Deutsche Bank to “Buy”. The rating was maintained by SunTrust with “Hold” on Monday, November 6. The stock of Duke Energy Corporation (NYSE:DUK) earned “Hold” rating by SunTrust on Monday, March 19. SunTrust maintained the stock with “Hold” rating in Monday, December 11 report. The stock of Duke Energy Corporation (NYSE:DUK) earned “Hold” rating by KeyBanc Capital Markets on Wednesday, October 18.

Duke Energy Corporation (NYSE:DUK) Institutional Positions Chart

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