FY2024 EPS Estimates for Duke Energy Decreased by Analyst

Duke Energy Co. (NYSE:DUK) – Analysts at Zacks Research reduced their FY2024 earnings per share estimates for shares of Duke Energy in a research report issued to clients and investors on Thursday, November 28th. Zacks Research analyst A. Dutta now expects that the utilities provider will earn $5.92 per share for the year, down from their prior estimate of $5.96. The consensus estimate for Duke Energy’s current full-year earnings is $5.96 per share. Zacks Research also issued estimates for Duke Energy’s Q4 2024 earnings at $1.68 EPS, Q4 2025 earnings at $1.83 EPS, Q2 2026 earnings at $1.42 EPS and FY2026 earnings at $6.68 EPS.

DUK has been the topic of several other research reports. Wells Fargo & Company upped their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group started coverage on Duke Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $138.00 price objective for the company. The Goldman Sachs Group upped their price target on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price target on shares of Duke Energy in a research report on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.69.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $113.64 on Monday. Duke Energy has a twelve month low of $90.09 and a twelve month high of $121.25. The stock’s 50 day moving average is $115.09 and its 200-day moving average is $110.44. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $87.78 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 3.04 and a beta of 0.47.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.11). The company had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.94 earnings per share.

Institutional Investors Weigh In On Duke Energy

Institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its holdings in Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after buying an additional 119 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Duke Energy during the 3rd quarter worth about $29,000. Olistico Wealth LLC bought a new position in Duke Energy in the 2nd quarter worth about $30,000. Northwest Investment Counselors LLC purchased a new position in Duke Energy during the 3rd quarter valued at about $30,000. Finally, Sachetta LLC increased its position in shares of Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after buying an additional 96 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is currently 76.84%.

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.