After Duke Energy (DUK) agreed to buy Piedmont Natural Gas (PNG), Bernstein says that the acquisition is 0.8%-2.8% accretive to Duke's 2017 EPS. The firm adds that the deal will enable Duke to realize large future investments in high quality regulated assets. It keeps an $86 price target and Outperform rating on the shares.

Scotiabank lowered the firm's price target on Duke Energy to $94 from $101 and keeps a Sector Perform rating on the shares. Interest rates remain stubbornly high, which has weighed on the sector's valuation, the analyst tells investors. The firm views both Canadian and North American utility stocks as undervalued but sees upside for Canadian utility stocks following their steady underperformance compared to its U.S. peers. Fundamentally, Scotiabank remains bullish on the group's long-term earnings outlook given the tailwinds driving its strong rate base growth.