Duke Energy (NYSE:DUK) Releases FY 2024 Earnings Guidance

Duke Energy (NYSE:DUK) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 5.850-6.100 for the period, compared to the consensus earnings per share estimate of 5.970. The company issued revenue guidance of -.

Analyst Ratings Changes

DUK has been the subject of a number of recent analyst reports. Scotiabank lowered their target price on shares of Duke Energy from $101.00 to $94.00 and set a sector perform rating for the company in a research note on Monday, April 22nd. Evercore ISI raised shares of Duke Energy from an in-line rating to an outperform rating and boosted their price objective for the company from $90.00 to $108.00 in a report on Tuesday, January 23rd. Mizuho lifted their price target on Duke Energy from $89.00 to $99.00 and gave the stock a neutral rating in a research report on Friday, April 5th. Barclays increased their price objective on Duke Energy from $99.00 to $100.00 and gave the company an overweight rating in a report on Monday, April 15th. Finally, Bank of America upped their target price on Duke Energy from $96.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Duke Energy presently has a consensus rating of Hold and an average target price of $100.62.

Duke Energy Price Performance

Shares of DUK stock traded up $0.08 during mid-day trading on Wednesday, hitting $102.34. 568,746 shares of the stock were exchanged, compared to its average volume of 3,001,087. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.50. Duke Energy has a 52-week low of $83.06 and a 52-week high of $102.46. The firm has a fifty day moving average of $95.96 and a 200 day moving average of $94.37. The company has a market cap of $78.95 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.39 by $0.05. The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.31 billion. Duke Energy had a return on equity of 8.93% and a net margin of 9.78%. Duke Energy’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. Research analysts anticipate that Duke Energy will post 5.98 earnings per share for the current year.

Insider Activity

In related news, EVP Louis E. Renjel sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $92.57, for a total value of $277,710.00. Following the transaction, the executive vice president now directly owns 14,213 shares of the company’s stock, valued at approximately $1,315,697.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.14% of the company’s stock.

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.