Duke Energy (NYSE:DUK) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Duke Energy (NYSE:DUK) posted its earnings results on Tuesday. The utilities provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.39 by $0.05, Briefing.com reports. Duke Energy had a return on equity of 8.93% and a net margin of 9.78%. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS.

Duke Energy Stock Up 0.1 %

Shares of NYSE:DUK traded up $0.08 during trading on Friday, hitting $103.10. The stock had a trading volume of 526,818 shares, compared to its average volume of 3,004,481. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $79.54 billion, a PE ratio of 29.02, a PEG ratio of 2.67 and a beta of 0.45. The firm’s fifty day moving average is $96.19 and its 200 day moving average is $94.42. Duke Energy has a 12 month low of $83.06 and a 12 month high of $103.58.

Insider Buying and Selling

In related news, EVP Louis E. Renjel sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $92.57, for a total value of $277,710.00. Following the sale, the executive vice president now owns 14,213 shares in the company, valued at approximately $1,315,697.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DUK shares. BMO Capital Markets upped their price objective on Duke Energy from $104.00 to $108.00 and gave the stock an “outperform” rating in a report on Wednesday. Evercore ISI upgraded Duke Energy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $90.00 to $108.00 in a report on Tuesday, January 23rd. Wells Fargo & Company dropped their target price on Duke Energy from $103.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Scotiabank dropped their target price on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Barclays increased their target price on Duke Energy from $99.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Duke Energy has an average rating of “Hold” and a consensus price target of $101.31.

About Duke Energy

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.