Duke Energy (NYSE:DUK) Updates FY 2024 Earnings Guidance

Duke Energy (NYSE:DUK) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.850-6.100 for the period, compared to the consensus EPS estimate of 5.970. The company issued revenue guidance of -. Duke Energy also updated its FY24 guidance to $5.85-6.10 EPS.

Duke Energy Price Performance

NYSE:DUK traded up $0.23 during trading hours on Friday, hitting $112.66. The company’s stock had a trading volume of 2,218,653 shares, compared to its average volume of 2,968,208. The stock has a fifty day simple moving average of $104.47 and a 200-day simple moving average of $99.28. The company has a market capitalization of $86.95 billion, a P/E ratio of 28.24, a PEG ratio of 3.09 and a beta of 0.45. Duke Energy has a twelve month low of $83.06 and a twelve month high of $116.67. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.50.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that Duke Energy will post 5.97 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.045 per share. The ex-dividend date is Friday, August 16th. This represents a $4.18 annualized dividend and a dividend yield of 3.71%. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is currently 105.03%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DUK. Morgan Stanley reduced their target price on Duke Energy from $103.00 to $98.00 and set an equal weight rating for the company in a report on Monday, June 24th. Evercore ISI increased their price objective on Duke Energy from $108.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday. Scotiabank upped their target price on shares of Duke Energy from $94.00 to $104.00 and gave the stock a sector perform rating in a report on Wednesday. KeyCorp raised their price target on Duke Energy from $112.00 to $114.00 and gave the company an overweight rating in a report on Monday, July 22nd. Finally, Bank of America boosted their price objective on Duke Energy from $96.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $106.75.

Insider Transactions at Duke Energy

In other Duke Energy news, CEO Lynn J. Good sold 15,000 shares of Duke Energy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the sale, the chief executive officer now directly owns 437,464 shares of the company’s stock, valued at approximately $45,190,031.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Duke Energy news, Director E Marie Mckee sold 1,695 shares of Duke Energy stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total value of $173,415.45. Following the completion of the sale, the director now owns 4 shares of the company’s stock, valued at approximately $409.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lynn J. Good sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the sale, the chief executive officer now directly owns 437,464 shares of the company’s stock, valued at approximately $45,190,031.20. The disclosure for this sale can be found here. Corporate insiders own 0.10% 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.