Equities Analysts Offer Predictions for Duke Energy Co.’s FY2024 Earnings (NYSE:DUK)

Duke Energy Co. (NYSE:DUK) – Equities researchers at Seaport Res Ptn increased their FY2024 EPS estimates for Duke Energy in a report issued on Wednesday, September 13th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $5.94 per share for the year, up from their prior estimate of $5.92. The consensus estimate for Duke Energy’s current full-year earnings is $5.61 per share. Seaport Res Ptn also issued estimates for Duke Energy’s FY2025 earnings at $6.30 EPS and FY2026 earnings at $6.65 EPS.

A number of other equities analysts also recently weighed in on the company. Mizuho dropped their target price on Duke Energy from $92.00 to $91.00 and set a “neutral” rating on the stock in a report on Friday, August 25th. Bank of America dropped their target price on Duke Energy from $112.00 to $110.00 in a report on Sunday, June 11th. StockNews.com downgraded Duke Energy from a “hold” rating to a “sell” rating in a report on Saturday, September 2nd. Guggenheim dropped their price objective on Duke Energy from $114.00 to $102.00 in a report on Friday, July 7th. Finally, Royal Bank of Canada dropped their price objective on Duke Energy from $104.00 to $101.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Duke Energy has an average rating of “Hold” and a consensus price target of $99.92.

Duke Energy Price Performance

Shares of DUK opened at $95.45 on Thursday. The company has a market capitalization of $73.56 billion, a price-to-earnings ratio of 53.32, a P/E/G ratio of 2.62 and a beta of 0.43. Duke Energy has a fifty-two week low of $83.76 and a fifty-two week high of $108.68. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.75 and a quick ratio of 0.52. The business’s 50-day moving average is $91.39 and its 200-day moving average is $93.33.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.07). Duke Energy had a net margin of 5.06% and a return on equity of 8.05%. The firm had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Duke Energy’s quarterly revenue was down 1.6% compared to the same quarter last year.

Institutional Investors Weigh In On Duke Energy

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Duke Energy by 3.2% in the second quarter. Geode Capital Management LLC now owns 14,863,706 shares of the utilities provider’s stock valued at $1,330,739,000 after acquiring an additional 464,754 shares during the period. Morgan Stanley lifted its position in Duke Energy by 11.5% in the fourth quarter. Morgan Stanley now owns 10,018,171 shares of the utilities provider’s stock worth $1,031,772,000 after purchasing an additional 1,037,012 shares during the period. Royal Bank of Canada lifted its position in Duke Energy by 2.7% in the second quarter. Royal Bank of Canada now owns 9,635,102 shares of the utilities provider’s stock worth $864,652,000 after purchasing an additional 257,665 shares during the period. Capital Research Global Investors lifted its position in Duke Energy by 21.3% in the second quarter. Capital Research Global Investors now owns 8,188,381 shares of the utilities provider’s stock worth $734,825,000 after purchasing an additional 1,435,725 shares during the period. Finally, Franklin Resources Inc. lifted its position in Duke Energy by 1.1% in the second quarter. Franklin Resources Inc. now owns 7,928,738 shares of the utilities provider’s stock worth $711,525,000 after purchasing an additional 89,132 shares during the period. 63.68% of the stock is owned by institutional investors.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be given a dividend of $1.025 per share. The ex-dividend date is Thursday, August 17th. This represents a $4.10 dividend on an annualized basis and a yield of 4.30%. This is a boost from Duke Energy’s previous quarterly dividend of $1.01. Duke Energy’s dividend payout ratio is presently 229.05%.

Duke Energy Company Profile

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; and uses coal, hydroelectric, natural gas, oil, solar and wind sources, renewables, and nuclear fuel to generate electricity.