Duke Energy (NYSE:DUK) Issues FY24 Earnings Guidance

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

Duke Energy Price Performance

Shares of DUK traded up $0.13 during trading hours on Wednesday, reaching $102.39. 3,497,929 shares of the company’s stock traded hands, compared to its average volume of 3,033,088. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 1.50. The firm’s 50 day simple moving average is $95.96 and its 200-day simple moving average is $94.37. The stock has a market cap of $78.99 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45. Duke Energy has a 12 month low of $83.06 and a 12 month high of $102.64.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.31 billion. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. Equities analysts expect that Duke Energy will post 5.98 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on DUK. Royal Bank of Canada upgraded Duke Energy from a sector perform rating to an outperform rating and boosted their target price for the stock from $101.00 to $113.00 in a research report on Wednesday, January 10th. Barclays lifted 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. Evercore ISI raised Duke Energy from an in-line rating to an outperform rating and raised their price objective for the company from $90.00 to $108.00 in a research note on Tuesday, January 23rd. Bank of America boosted their target price on Duke Energy from $96.00 to $100.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets lifted their price target on Duke Energy from $104.00 to $108.00 and gave the stock an outperform rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Duke Energy currently has a consensus rating of Hold and an average target price of $101.31.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $92.57, for a total value of $277,710.00. Following the completion of the sale, the executive vice president now directly owns 14,213 shares in the company, valued at $1,315,697.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.