Brokers Set Expectations for Duke Energy Co.’s Q2 2024 Earnings (NYSE:DUK)

Duke Energy Co. (NYSE:DUK) – Stock analysts at Zacks Research increased their Q2 2024 earnings estimates for Duke Energy in a research note issued to investors on Thursday, May 2nd. Zacks Research analyst A. Dutta now forecasts that the utilities provider will post earnings of $0.97 per share for the quarter, up from their prior forecast of $0.92. The consensus estimate for Duke Energy’s current full-year earnings is $5.98 per share. Zacks Research also issued estimates for Duke Energy’s Q2 2025 earnings at $1.16 EPS, FY2025 earnings at $6.33 EPS, Q1 2026 earnings at $1.69 EPS and FY2026 earnings at $6.52 EPS.

Several other research firms also recently commented on DUK. Royal Bank of Canada upgraded shares of Duke Energy from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $101.00 to $113.00 in a report on Wednesday, January 10th. Scotiabank decreased their price target on shares of Duke Energy from $101.00 to $94.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Mizuho upped their price target on shares of Duke Energy from $89.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Bank of America upped their price objective on shares of Duke Energy from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Barclays upped their price objective on shares of Duke Energy from $99.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $100.62.

Duke Energy Price Performance

NYSE:DUK opened at $102.26 on Monday. Duke Energy has a one year low of $83.06 and a one year high of $102.36. The company has a market cap of $78.89 billion, a P/E ratio of 28.81, a P/E/G ratio of 2.67 and a beta of 0.45. The firm’s fifty day moving average price is $95.96 and its two-hundred day moving average price is $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.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, February 8th. The utilities provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.02). Duke Energy had a return on equity of 8.93% and a net margin of 9.78%. The firm had revenue of $7.21 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Duke Energy’s quarterly revenue was down 1.9% on a year-over-year basis.

Insider Buying and Selling at Duke Energy

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

Institutional Investors Weigh In On Duke Energy

Several large investors have recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC grew its holdings in Duke Energy by 13.9% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,826 shares of the utilities provider’s stock valued at $274,000 after buying an additional 344 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in Duke Energy by 28.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,023 shares of the utilities provider’s stock valued at $355,000 after buying an additional 894 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Duke Energy by 4.5% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 25,824 shares of the utilities provider’s stock worth $2,545,000 after purchasing an additional 1,122 shares in the last quarter. Wagner Wealth Management LLC grew its holdings in shares of Duke Energy by 3.4% during the fourth quarter. Wagner Wealth Management LLC now owns 17,421 shares of the utilities provider’s stock worth $1,691,000 after purchasing an additional 576 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in shares of Duke Energy by 31.2% during the fourth quarter. ORG Partners LLC now owns 1,300 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 65.31% 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.