KeyCorp Comments on Duke Energy’s Q3 Earnings (NYSE:DUK)

Duke Energy Co. (NYSE:DUK) – KeyCorp dropped their Q3 2024 EPS estimates for shares of Duke Energy in a report released on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $1.68 per share for the quarter, down from their previous forecast of $1.90. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Duke Energy’s current full-year earnings is $5.97 per share. KeyCorp also issued estimates for Duke Energy’s Q4 2024 earnings at $1.60 EPS, FY2024 earnings at $5.98 EPS, FY2025 earnings at $6.34 EPS, FY2027 earnings at $7.13 EPS and FY2028 earnings at $7.62 EPS.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS.

Several other brokerages have also issued reports on DUK. Evercore ISI boosted their target price on Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America boosted their price objective on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $116.00 to $121.00 in a research note on Tuesday, October 15th. Barclays boosted their target price on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.85.

Duke Energy Price Performance

Shares of Duke Energy stock opened at $117.21 on Thursday. The stock has a market cap of $90.46 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 3.06 and a beta of 0.46. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. The stock has a 50 day moving average price of $115.51 and a 200-day moving average price of $107.33. Duke Energy has a one year low of $86.61 and a one year high of $121.25.

Institutional Trading of Duke Energy

Several large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Duke Energy by 3.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 435,157 shares of the utilities provider’s stock valued at $42,084,000 after purchasing an additional 13,406 shares during the period. Duality Advisers LP boosted its stake in shares of Duke Energy by 57.8% during the 1st quarter. Duality Advisers LP now owns 27,071 shares of the utilities provider’s stock worth $2,618,000 after acquiring an additional 9,917 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Duke Energy by 63.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,710 shares of the utilities provider’s stock valued at $4,324,000 after acquiring an additional 17,420 shares during the period. Janus Henderson Group PLC increased its stake in shares of Duke Energy by 9.4% in the 1st quarter. Janus Henderson Group PLC now owns 108,819 shares of the utilities provider’s stock valued at $10,520,000 after purchasing an additional 9,334 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in Duke Energy in the 2nd quarter worth about $2,888,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the sale, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.045 per share. The ex-dividend date is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.57%. Duke Energy’s payout ratio is 105.03%.

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.