Duke Energy Corporation (DUK)’s Bearish Ascending Triangle Points to Higher Stock Risks

April 17, 2018 - By Duane Lopez

Duke Energy Corporation (NYSE:DUK) Logo

Investors sentiment increased to 1.13 in 2017 Q4. 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.
Johnson Invest Counsel holds 0.09% of its portfolio in Duke Energy Corporation (NYSE:DUK) for 42,236 shares. The Ohio-based Farmers Tru Co has invested 0.14% in Duke Energy Corporation (NYSE:DUK). Tiverton Asset Ltd Liability Company has invested 0.02% in Duke Energy Corporation (NYSE:DUK). Vantage Investment Prtnrs Limited Liability Co owns 0.96% invested in Duke Energy Corporation (NYSE:DUK) for 12,523 shares. Asset reported 0.18% stake. Marietta Inv Prtn Ltd Liability Corporation has 4,192 shares. Citizens And Northern Corp holds 0.5% or 8,306 shares in its portfolio. Sun Life Fincl Inc owns 18,782 shares for 0.16% of their portfolio. Guardian Life Ins Of America has 0.04% invested in Duke Energy Corporation (NYSE:DUK) for 2,266 shares. Evercore Wealth Mgmt Limited Liability Co reported 0.08% in Duke Energy Corporation (NYSE:DUK). 4,270 were reported by Glenview Bank Trust Dept. Patten And Patten Tn accumulated 37,289 shares. Keybank National Association Oh has invested 0.05% of its portfolio in Duke Energy Corporation (NYSE:DUK). Headinvest Limited Liability accumulated 3,937 shares or 0.1% of the stock. Brown Brothers Harriman And owns 17,892 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 $815.73 million 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. The stock has “Equal-Weight” rating by Morgan Stanley on Tuesday, February 13. SunTrust maintained the stock with “Hold” rating in Monday, February 5 report. The company was maintained on Sunday, January 28 by SunTrust. SunTrust maintained the stock with “Hold” rating in Wednesday, January 3 report. Morgan Stanley maintained the stock with “Equal-Weight” rating in Monday, November 13 report. SunTrust maintained it with “Hold” rating and $80.0 target in Monday, February 26 report. The firm has “Hold” rating given on Monday, December 11 by SunTrust. On Monday, April 16 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. Morgan Stanley maintained Duke Energy Corporation (NYSE:DUK) rating on Wednesday, December 13. Morgan Stanley has “Equal-Weight” rating and $96 target. The rating was maintained by KeyBanc Capital Markets on Wednesday, October 18 with “Hold”.

Duke Energy Corporation (NYSE:DUK) Institutional Positions Chart

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