BTIG reiterates Buy rating on Duke Energy with $139 target

BTIG analyst Alex Kania reiterated a Buy rating and a $139.00 price target on Duke Energy (NYSE: DUK), according to a press release statement.

The reiteration follows a settlement filed on July 17 among Duke Energy Carolinas (DEC), Commission staff, and intervenors in the DEC rate case. Key terms of the settlement include a 9.8% return on equity (ROE), a 53% equity layer, approximately $25.7 billion in rate base, and a roughly $496 million revenue increase over the two years of the multi-year rate plan (MYRP), representing an annual customer rate increase of approximately 3.7%.

Kania described the settlement as "balanced," noting it "highlights DUK's efforts on the affordability front, includes ROE/capital structures in line with its other jurisdictions, gives multiple years of clarity, and should still allow DUK the ability to earn reasonable returns."

The analyst noted plans to monitor remaining hearings, potential Commission action, and the upcoming second-quarter earnings call for further updates.

Shares of Duke Energy most recently closed at $125.01.

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