FY2024 EPS Estimates for Duke Energy Reduced by Analyst

Duke Energy Co. (NYSE:DUK) – Equities researchers at Zacks Research reduced their FY2024 earnings estimates for shares of Duke Energy in a research report issued on Thursday, November 28th. Zacks Research analyst A. Dutta now forecasts that the utilities provider will earn $5.92 per share for the year, down from their prior estimate of $5.96. The consensus estimate for Duke Energy’s current full-year earnings is $5.96 per share. Zacks Research also issued estimates for Duke Energy’s Q4 2024 earnings at $1.68 EPS, Q4 2025 earnings at $1.83 EPS, Q2 2026 earnings at $1.42 EPS and FY2026 earnings at $6.68 EPS.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share 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 business had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.

Several other equities research analysts have also issued reports on DUK. Scotiabank lifted their price target on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. The Goldman Sachs Group boosted their price objective on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 target price on shares of Duke Energy in a research report on Thursday, August 29th. Morgan Stanley reduced their price target on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Evercore ISI boosted their target price on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.69.

Duke Energy Stock Performance

NYSE:DUK opened at $117.05 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $90.42 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. Duke Energy has a twelve month low of $90.09 and a twelve month high of $121.25. The stock’s 50-day simple moving average is $115.18 and its 200 day simple moving average is $110.29.

Institutional Investors Weigh In On Duke Energy

Hedge funds have recently added to or reduced their stakes in the business. PBMares Wealth Management LLC lifted its holdings in Duke Energy by 1.8% in the third quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock worth $563,000 after buying an additional 86 shares during the period. Pinnacle West Asset Management Inc. lifted its position in Duke Energy by 2.1% during the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock valued at $444,000 after buying an additional 90 shares during the period. Castleview Partners LLC boosted its holdings in shares of Duke Energy by 4.9% during the 3rd quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock valued at $224,000 after buying an additional 90 shares in the last quarter. Kanawha Capital Management LLC increased its stake in shares of Duke Energy by 1.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock worth $760,000 after acquiring an additional 92 shares in the last quarter. Finally, Baron Wealth Management LLC boosted its stake in Duke Energy by 3.5% during the third quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock worth $315,000 after acquiring an additional 92 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.57%. Duke Energy’s dividend payout ratio (DPR) is currently 76.84%.

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.