Duke Energy (NYSE:DUK) Releases FY24 Earnings Guidance

Duke Energy (NYSE:DUK) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.85-6.10 for the period, compared to the consensus estimate of $5.97.

Duke Energy Stock Up 0.1 %

Shares of NYSE DUK traded up $0.13 on Wednesday, hitting $102.39. The company had a trading volume of 3,497,929 shares, compared to its average volume of 3,033,088. The firm has a market capitalization of $78.99 billion, a P/E ratio of 28.84, a PEG ratio of 2.67 and a beta of 0.45. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.50. Duke Energy has a 12-month low of $83.06 and a 12-month high of $102.64. The business has a 50 day moving average of $95.96 and a two-hundred day moving average of $94.37.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.05. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.31 billion. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. Duke Energy’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. As a group, equities research analysts forecast that Duke Energy will post 5.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada raised Duke Energy from a sector perform rating to an outperform rating and increased their price target for the company from $101.00 to $113.00 in a report on Wednesday, January 10th. Wells Fargo & Company reduced their price objective on shares of Duke Energy from $103.00 to $100.00 and set an overweight rating on the stock in a research note on Friday, February 9th. Barclays boosted their target price on shares of Duke Energy from $99.00 to $100.00 and gave the stock an overweight rating in a research report on Monday, April 15th. Mizuho increased their price target on shares of Duke Energy from $89.00 to $99.00 and gave the stock a neutral rating in a research report on Friday, April 5th. Finally, Evercore ISI raised Duke Energy from an in-line rating to an outperform rating and boosted their price objective for the company from $90.00 to $108.00 in a report on Tuesday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Duke Energy presently has a consensus rating of Hold and a consensus price target of $101.31.

Insiders Place Their Bets

In other Duke Energy news, EVP Louis E. Renjel sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $92.57, for a total transaction of $277,710.00. Following the transaction, the executive vice president now owns 14,213 shares in the company, valued at $1,315,697.41. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.