Scotiabank Forecasts Duke Energy FY2024 Earnings

Duke Energy Co. (NYSE:DUK) – Equities researchers at Scotiabank issued their FY2024 EPS estimates for Duke Energy in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst A. Weisel expects that the utilities provider will earn $5.95 per share for the year. Scotiabank has a “Sector Perform” rating and a $120.00 price target on the stock. The consensus estimate for Duke Energy’s current full-year earnings is $5.95 per share. Scotiabank also issued estimates for Duke Energy’s FY2025 earnings at $6.37 EPS.

Duke Energy (NYSE:DUK) last announced its 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). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. 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 company posted $1.94 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year.

Several other analysts have also issued reports on DUK. KeyCorp lowered shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on shares of Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 price target on the stock. Morgan Stanley dropped their price target on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Barclays upped their price target on shares of Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $116.00 to $121.00 in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.23.

Duke Energy Stock Performance

NYSE DUK opened at $106.77 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. The firm’s fifty day moving average price is $110.73 and its two-hundred day moving average price is $111.87. Duke Energy has a 1 year low of $90.09 and a 1 year high of $121.25. The firm has a market capitalization of $82.48 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.49.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a yield of 3.91%. Duke Energy’s payout ratio is 76.84%.

Institutional Investors Weigh In On Duke Energy

A number of hedge funds have recently made changes to their positions in DUK. Westover Capital Advisors LLC acquired a new stake in shares of Duke Energy in the 2nd quarter valued at approximately $200,000. Parallel Advisors LLC raised its holdings in Duke Energy by 3.7% in the 2nd quarter. Parallel Advisors LLC now owns 7,006 shares of the utilities provider’s stock valued at $702,000 after buying an additional 247 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in Duke Energy in the 2nd quarter valued at approximately $580,000. Envestnet Asset Management Inc. raised its holdings in Duke Energy by 1.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock valued at $247,672,000 after buying an additional 40,243 shares during the last quarter. Finally, Williams Financial LLC bought a new position in Duke Energy in the 2nd quarter valued at approximately $593,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

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.