Duke Energy (NYSE:DUK) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Duke Energy (NYSE:DUK) posted its quarterly earnings data on Tuesday. The utilities provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.05, Briefing.com reports. The firm had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.31 billion. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS.

Duke Energy Stock Up 0.5 %

NYSE DUK traded up $0.48 during trading hours on Thursday, reaching $102.86. 788,694 shares of the company’s stock traded hands, compared to its average volume of 3,010,384. Duke Energy has a 52-week low of $83.06 and a 52-week high of $103.03. The firm has a market cap of $79.35 billion, a PE ratio of 28.84, a PEG ratio of 2.67 and a beta of 0.45. The firm has a 50-day simple moving average of $95.96 and a 200 day simple moving average of $94.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.74 and a quick ratio of 0.49.

Insider Activity at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 3,000 shares of Duke Energy 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 completion of the transaction, the executive vice president now directly owns 14,213 shares of the company’s stock, valued at $1,315,697.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Scotiabank lowered their price objective on shares of Duke Energy from $101.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Barclays raised their price objective on shares of Duke Energy from $99.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI raised shares of Duke Energy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $90.00 to $108.00 in a report on Tuesday, January 23rd. BMO Capital Markets increased their target price on shares of Duke Energy from $104.00 to $108.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Duke Energy from $103.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.31.

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.