Analysts Set Expectations for Duke Energy FY2024 Earnings

Duke Energy Co. (NYSE:DUK) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for Duke Energy in a research note issued to investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $5.92 per share for the year, down from their prior forecast of $5.98. The consensus estimate for Duke Energy’s current full-year earnings is $5.95 per share.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the company posted $1.94 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year.

DUK has been the topic of several other reports. Barclays boosted their price objective on Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. BMO Capital Markets increased their price objective on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $116.00 to $121.00 in a research report on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Duke Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $138.00 price target on the stock. Finally, KeyCorp lowered Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.23.

Duke Energy Stock Down 1.4 %

Shares of DUK stock opened at $106.24 on Tuesday. Duke Energy has a one year low of $90.09 and a one year high of $121.25. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.70 and a quick ratio of 0.45. The company has a market capitalization of $82.07 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.90 and a beta of 0.49. The company’s fifty day moving average price is $111.54 and its 200-day moving average price is $111.59.

Institutional Investors Weigh In On Duke Energy

Several hedge funds and other institutional investors have recently made changes to their positions in DUK. Legacy Investment Solutions LLC bought a new stake in Duke Energy in the third quarter worth about $29,000. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy during the 3rd quarter worth approximately $30,000. Sachetta LLC boosted its holdings in Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 96 shares during the period. Reston Wealth Management LLC bought a new position in Duke Energy in the 3rd quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC increased its stake in Duke Energy by 100.0% in the third quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 65.31% 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.