Duke Energy Co. (NYSE:DUK – Get Rating) – Equities research analysts at KeyCorp lifted their Q4 2023 earnings per share estimates for Duke Energy in a research report issued on Tuesday, May 23rd. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings per share of $1.34 for the quarter, up from their prior estimate of $1.25. The consensus estimate for Duke Energy’s current full-year earnings is $5.62 per share.
A number of other analysts also recently issued reports on the company. Seaport Res Ptn raised Duke Energy from a “sell” rating to a “neutral” rating in a research report on Friday, March 17th. Morgan Stanley raised their price target on Duke Energy from $99.00 to $108.00 and gave the stock an “equal weight” rating in a report on Thursday, April 20th. Wells Fargo & Company cut their price target on Duke Energy from $111.00 to $103.00 and set an “equal weight” rating for the company in a report on Friday, February 10th. StockNews.com started coverage on Duke Energy in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada cut their price target on Duke Energy from $116.00 to $112.00 and set a “sector perform” rating for the company in a report on Thursday, February 16th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.60.
Duke Energy Stock Performance
Duke Energy (NYSE:DUK – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The utilities provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.20). The business had revenue of $7.28 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Duke Energy had a net margin of 8.89% and a return on equity of 8.39%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 earnings per share.
Duke Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, May 12th will be paid a dividend of $1.005 per share. The ex-dividend date is Thursday, May 11th. This represents a $4.02 annualized dividend and a dividend yield of 4.52%. Duke Energy’s payout ratio is currently 123.69%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shepherd Financial Partners LLC boosted its stake in Duke Energy by 0.5% in the first quarter. Shepherd Financial Partners LLC now owns 20,845 shares of the utilities provider’s stock valued at $2,326,000 after buying an additional 94 shares in the last quarter. North Star Investment Management Corp. raised its position in Duke Energy by 3.1% in the fourth quarter. North Star Investment Management Corp. now owns 3,192 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 95 shares during the last quarter. Grant GrossMendelsohn LLC raised its position in Duke Energy by 3.3% in the fourth quarter. Grant GrossMendelsohn LLC now owns 3,086 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 98 shares during the last quarter. Lipe & Dalton raised its position in shares of Duke Energy by 41.2% during the fourth quarter. Lipe & Dalton now owns 343 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. Finally, Northwest Bancshares Inc. raised its position in shares of Duke Energy by 1.7% during the fourth quarter. Northwest Bancshares Inc. now owns 5,925 shares of the utilities provider’s stock worth $610,000 after acquiring an additional 100 shares during the last quarter. 63.22% of the stock is currently owned by institutional investors and hedge funds.
About Duke Energy
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.
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