Mixed Duke Energy Outlook: RBC Cuts Target to $140, Scotiabank Lifts to $146
RBC cut Duke Energy’s price target to $140 from $143 with a sector-perform rating, while Scotiabank and Mizuho raised targets to $146 and $140 respectively, underscoring mixed analyst sentiment. Commerzbank trimmed its 64,583-share stake by 8.6% ($7.99M) in Q3, and Duke reported $1.81 EPS (beat $1.75 estimate) alongside a $1.065 quarterly dividend (3.6% yield).
1. Widespread Power Restoration Underway in the Carolinas
As of 2 p.m. on January 26, Duke Energy crews have restored service to 131,059 out of roughly 153,035 affected Carolinas customers following Winter Storm Fern. North Carolina saw 93,609 restorations and 10,554 remaining outages, while South Carolina crews brought back power to 37,450 customers with 11,422 still waiting. Lineworkers remain on track to complete most repairs by day’s end, though isolated pockets of extensive equipment damage—in areas such as Hendersonville, Travelers Rest and Clemson—may delay restorations until Tuesday. Road conditions continue to hinder access to some sites, prompting Duke Energy to stage additional damage assessors and tree-trimming crews for rapid deployment as soon as safe travel is possible.
2. Customer Guidance to Manage Rising Winter Demand
With colder-than-normal temperatures driving heating systems to run longer, Duke Energy is urging customers who remain online to adopt small behavioral changes that can yield significant energy savings. Recommendations include setting thermostats to the lowest comfortable setting, checking and replacing clogged air filters to maintain system efficiency, harnessing passive solar gain by opening blinds during daylight hours and closing curtains at night, and running ceiling fans in a clockwise direction to redistribute warm air. These low-cost steps can help mitigate bill increases without compromising indoor comfort during the sustained cold spell.
3. Institutional Holders Adjust Positions in Duke Energy
In its latest SEC filing, Commerzbank Aktiengesellschaft FI reported it trimmed its stake in Duke Energy by 8.6%, selling 6,054 shares to hold 64,583 shares worth approximately $7.99 million at quarter end. Other funds made smaller moves: Legacy Investment Solutions added a new position valued at $28,000; Mascoma Wealth Management increased its holdings by 53.7% to 249 shares; and Trifecta Capital Advisors expanded its stake more than twentyfold to 310 shares. Following these adjustments, institutional investors and hedge funds collectively own just over 65% of Duke Energy’s outstanding shares, underscoring continued confidence from large-scale market participants despite winter storm pressures.