Duke Energy (NYSE:DUK) Issues FY 2024 Earnings Guidance

Duke Energy (NYSE:DUK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 5.850-6.100 for the period, compared to the consensus EPS estimate of 5.980. The company issued revenue guidance of -. Duke Energy also updated its FY24 guidance to $5.85-6.10 EPS.

Duke Energy Price Performance

Duke Energy stock traded down $2.62 during midday trading on Thursday, reaching $111.01. 1,976,561 shares of the stock traded hands, compared to its average volume of 3,042,917. 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 has a 12 month low of $86.61 and a 12 month high of $121.25. The stock’s fifty day moving average is $115.89 and its 200-day moving average is $108.61. The stock has a market cap of $85.72 billion, a P/E ratio of 20.92, a PEG ratio of 3.07 and a beta of 0.47.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Duke Energy’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts anticipate that Duke Energy will post 5.98 EPS for the current year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a yield of 3.77%. Duke Energy’s dividend payout ratio is currently 76.98%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DUK shares. Barclays boosted their target price on Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Morgan Stanley increased their target price on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Evercore ISI increased their target price on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 price target for the company. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.