Scotiabank Comments on Duke Energy FY2024 Earnings

Duke Energy Co. (NYSE:DUK) – Equities researchers at Scotiabank issued their FY2024 earnings per share estimates for shares of Duke Energy in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel forecasts that the utilities provider will post earnings of $5.95 per share for the year. Scotiabank currently has a “Sector Perform” rating and a $120.00 target price on the stock. The consensus estimate for Duke Energy’s current full-year earnings is $5.95 per share. Scotiabank also issued estimates for Duke Energy’s FY2025 earnings at $6.37 EPS.

Other equities research analysts also recently issued reports about the company. KeyCorp downgraded Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $116.00 to $121.00 in a research report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 price target on the stock. Morgan Stanley dropped their target price on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Barclays upped their target price on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.23.

Duke Energy Stock Up 0.4 %

Duke Energy stock opened at $106.29 on Monday. The firm has a market cap of $82.11 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.88 and a beta of 0.49. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. Duke Energy has a 12 month low of $90.09 and a 12 month high of $121.25. The stock has a fifty day simple moving average of $110.88 and a two-hundred day simple moving average of $111.83.

Duke Energy (NYSE:DUK) last issued 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 the consensus estimate of $8.06 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis.

Institutional Trading of Duke Energy

Several hedge funds have recently modified their holdings of DUK. Geode Capital Management LLC boosted its stake in Duke Energy by 2.6% in the third quarter. Geode Capital Management LLC now owns 17,488,176 shares of the utilities provider’s stock valued at $2,016,846,000 after acquiring an additional 442,302 shares in the last quarter. Pathway Financial Advisers LLC increased its position in Duke Energy by 11,471.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock valued at $781,500,000 after buying an additional 6,719,398 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Duke Energy by 1.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock valued at $247,672,000 after buying an additional 40,243 shares during the last quarter. Swiss National Bank boosted its holdings in Duke Energy by 0.3% in the third quarter. Swiss National Bank now owns 2,290,641 shares of the utilities provider’s stock worth $264,111,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Groupama Asset Managment acquired a new position in shares of Duke Energy during the third quarter valued at about $2,537,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be given a $1.045 dividend. The ex-dividend date is Friday, February 14th. This represents a $4.18 annualized dividend and a yield of 3.93%. Duke Energy’s dividend payout ratio 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.