Duke Energy (NYSE:DUK) Issues FY24 Earnings Guidance

Duke Energy (NYSE:DUK) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.85-6.10 for the period, compared to the consensus earnings per share estimate of $5.97.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of Duke Energy from $104.00 to $108.00 and gave the company an outperform rating in a research note on Wednesday. Evercore ISI upgraded shares of Duke Energy from an in-line rating to an outperform rating and increased their price objective for the company from $90.00 to $108.00 in a research note on Tuesday, January 23rd. Mizuho increased their price objective 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. Barclays upped their target price on shares of Duke Energy from $99.00 to $100.00 and gave the stock an overweight rating in a report on Monday, April 15th. Finally, Scotiabank lowered their target price on shares of Duke Energy from $101.00 to $94.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $101.31.

Duke Energy Price Performance

NYSE:DUK traded up $0.39 during mid-day trading on Thursday, reaching $102.77. 1,492,974 shares of the company were exchanged, compared to its average volume of 3,017,947. The stock has a market cap of $79.28 billion, a PE ratio of 28.84, a PEG ratio of 2.67 and a beta of 0.45. 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 12 month low of $83.06 and a 12 month high of $103.03. The company has a fifty day moving average of $95.96 and a 200 day moving average of $94.37.

Duke Energy (NYSE:DUK) last issued its earnings results 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 during 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 revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. On average, research analysts anticipate that Duke Energy will post 5.98 EPS for the current fiscal year.

Insider Activity

In other news, EVP Louis E. Renjel sold 3,000 shares of the business’s stock in a transaction on 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 owns 14,213 shares of the company’s stock, valued at approximately $1,315,697.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by company insiders.

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.