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 earnings per share (EPS) guidance of 5.850-6.100 for the period, compared to the consensus 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

DUK traded up $0.23 during midday trading on Friday, reaching $112.66. 2,218,653 shares of the company’s stock were exchanged, compared to its average volume of 2,968,208. Duke Energy has a one year low of $83.06 and a one year high of $116.67. The business has a 50-day simple moving average of $104.47 and a two-hundred day simple moving average of $99.28. The company has a quick ratio of 0.50, a current ratio of 0.78 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $86.95 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. Duke Energy’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. As a group, research analysts predict that Duke Energy will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DUK. Scotiabank lifted their price target on shares of Duke Energy from $94.00 to $104.00 and gave the stock a sector perform rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the company an overweight rating in a report on Wednesday. Barclays raised their target price on Duke Energy from $99.00 to $102.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Bank of America raised their price objective on shares of Duke Energy from $96.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Finally, Morgan Stanley cut their target price on shares of Duke Energy from $103.00 to $98.00 and set an equal weight rating for the company in a research report on Monday, June 24th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $106.75.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, 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 transaction, the chief executive officer now owns 437,464 shares in the company, valued at approximately $45,190,031.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Duke Energy news, Director E Marie Mckee sold 1,695 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total transaction of $173,415.45. Following the sale, the director now owns 4 shares in the company, valued at approximately $409.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lynn J. Good sold 15,000 shares of the stock in a transaction that occurred on 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 $45,190,031.20. The disclosure for this sale can be found here. 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.