Duke Energy (NYSE:DUK) Releases Earnings Results, Misses Expectations By $0.11 EPS

Duke Energy (NYSE:DUK) released its earnings results on Thursday. The utilities provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.11), Briefing.com reports. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The firm had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS and its FY 2024 guidance to 5.850-6.100 EPS.

Duke Energy Stock Performance

DUK traded up $2.15 during trading on Friday, reaching $113.23. The company’s stock had a trading volume of 3,780,881 shares, compared to its average volume of 3,062,986. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. The company’s fifty day moving average price is $115.89 and its 200-day moving average price is $108.61. The company has a market capitalization of $87.44 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 3.07 and a beta of 0.47. Duke Energy has a 52-week low of $86.61 and a 52-week high of $121.25.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s payout ratio is 76.98%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DUK. Morgan Stanley raised their price target on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 price objective for the company. BMO Capital Markets upped their price target on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and upped their target price for the company from $116.00 to $121.00 in a report on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.85.

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.