Zacks Research Brokers Lower Earnings Estimates for Duke Energy Co. (NYSE:DUK)

Duke Energy Co. (NYSE:DUK – Get Rating) – Stock analysts at Zacks Research decreased their FY2024 earnings estimates for Duke Energy in a report released on Wednesday, March 15th. Zacks Research analyst A. Dutta now forecasts that the utilities provider will earn $5.94 per share for the year, down from their prior estimate of $5.95. The consensus estimate for Duke Energy’s current full-year earnings is $5.63 per share. Zacks Research also issued estimates for Duke Energy’s Q4 2024 earnings at $1.28 EPS and FY2025 earnings at $6.28 EPS.

Duke Energy (NYSE:DUK – Get Rating) last released its earnings results on Thursday, February 9th. The utilities provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.05. Duke Energy had a net margin of 9.11% and a return on equity of 8.45%. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $5.27 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year.

Other analysts have also recently issued research reports about the stock. Seaport Res Ptn raised shares of Duke Energy from a “sell” rating to a “neutral” rating in a report on Friday. StockNews.com began coverage on Duke Energy in a research note on Thursday. They set a “hold” rating for the company. Royal Bank of Canada cut their target price on shares of Duke Energy from $116.00 to $112.00 and set a “sector perform” rating for the company in a research note on Thursday, February 16th. Morgan Stanley cut their target price on shares of Duke Energy from $108.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 22nd. Finally, BMO Capital Markets lifted their price target on Duke Energy from $107.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, January 4th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Duke Energy presently has a consensus rating of “Hold” and a consensus price target of $106.64.

Duke Energy Stock Down 0.8 %

Shares of NYSE:DUK opened at $96.39 on Friday. The firm’s 50 day moving average price is $99.26 and its 200 day moving average price is $98.95. The stock has a market cap of $74.23 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 3.16 and a beta of 0.42. Duke Energy has a fifty-two week low of $83.76 and a fifty-two week high of $116.33. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 1.34.

Institutional Investors Weigh In On Duke Energy

Several hedge funds and other institutional investors have recently made changes to their positions in DUK. Legend Financial Advisors Inc. acquired a new position in Duke Energy in the third quarter valued at about $25,000. Lowe Wealth Advisors LLC grew its position in shares of Duke Energy by 124.8% in the third quarter. Lowe Wealth Advisors LLC now owns 299 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 166 shares during the last quarter. EWG Elevate Inc. acquired a new position in shares of Duke Energy in the fourth quarter valued at approximately $28,000. WJ Interests LLC acquired a new stake in Duke Energy during the fourth quarter worth approximately $29,000. Finally, Richard W. Paul & Associates LLC acquired a new stake in Duke Energy during the fourth quarter worth approximately $29,000. 63.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, SVP Louis E. Renjel sold 1,900 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $99.90, for a total value of $189,810.00. Following the completion of the sale, the senior vice president now owns 9,967 shares in the company, valued at approximately $995,703.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Shareholders of record on Friday, February 17th were issued a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, February 16th. Duke Energy’s dividend payout ratio (DPR) is currently 121.08%.

About Duke Energy

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Duke Energy Corp. engages in the distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities & Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations in regulated electric utilities in the Carolinas, Florida and the Midwest.