Duke Energy (NYSE:DUK) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Duke Energy (NYSE:DUK) announced its earnings results on Thursday. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11), Briefing.com reports. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The business had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS and its FY 2024 guidance to 5.850-6.100 EPS.

Duke Energy Trading Up 1.9 %

Duke Energy stock traded up $2.15 during mid-day trading on Friday, hitting $113.23. 3,780,881 shares of the company’s stock were exchanged, compared to its average volume of 3,062,986. Duke Energy has a fifty-two week low of $86.61 and a fifty-two week high of $121.25. The company’s 50 day simple moving average is $115.89 and its 200-day simple moving average is $108.61. The firm has a market capitalization of $87.44 billion, a P/E ratio of 20.46, a PEG ratio of 3.07 and a beta of 0.47. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is 76.98%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DUK. Morgan Stanley raised their price target on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Evercore ISI upped their price objective on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upped their price target on shares of Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their price target on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Duke Energy in a report on Thursday, August 29th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and an average target price of $121.85.

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.