Brokers Set Expectations for Duke Energy FY2024 Earnings

Duke Energy Co. (NYSE:DUK) – Stock analysts at Seaport Res Ptn cut their FY2024 earnings estimates for Duke Energy in a research note issued to investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings of $5.92 per share for the year, down from their prior estimate of $5.98. The consensus estimate for Duke Energy’s current full-year earnings is $5.95 per share.

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

Other equities analysts have also recently issued research reports about the stock. Scotiabank lifted their target price on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. BMO Capital Markets lifted their price objective on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. KeyCorp cut Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. Barclays upped their price objective on Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Jefferies Financial Group assumed coverage on Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 price objective for the company. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.23.

Duke Energy Trading Up 1.4 %

NYSE:DUK opened at $108.30 on Tuesday. Duke Energy has a 52-week low of $90.09 and a 52-week high of $121.25. 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 stock has a fifty day simple moving average of $111.28 and a 200-day simple moving average of $111.62. The company has a market capitalization of $83.66 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.90 and a beta of 0.49.

Institutional Trading of Duke Energy

A number of institutional investors and hedge funds have recently made changes to their positions in DUK. Legacy Investment Solutions LLC acquired a new stake in Duke Energy during the third quarter worth about $29,000. Northwest Investment Counselors LLC acquired a new stake in Duke Energy during the 3rd quarter worth approximately $30,000. Sachetta LLC raised its holdings in Duke Energy by 41.9% in 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. Reston Wealth Management LLC acquired a new position in Duke Energy during the third quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC grew its stake in Duke Energy by 100.0% during the third quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock worth $39,000 after buying an additional 167 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

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.