Duke Energy (NYSE:DUK) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Duke Energy (NYSE:DUK) issued its quarterly earnings results on Tuesday. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.05, Briefing.com reports. Duke Energy had a return on equity of 8.93% and a net margin of 9.78%. The firm had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter last year, the company posted $1.20 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS.

Duke Energy Price Performance

DUK stock traded down $0.39 during mid-day trading on Wednesday, reaching $101.87. 1,579,042 shares of the company’s stock were exchanged, compared to its average volume of 3,013,700. The company has a market cap of $78.59 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45. Duke Energy has a 12-month low of $83.06 and a 12-month high of $102.64. The stock’s 50 day moving average is $95.96 and its 200 day moving average is $94.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.74 and a quick ratio of 0.49.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 3,000 shares of Duke Energy stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $92.57, for a total value of $277,710.00. Following the sale, the executive vice president now directly owns 14,213 shares in the company, valued at approximately $1,315,697.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Duke Energy from $99.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Royal Bank of Canada upgraded Duke Energy from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $101.00 to $113.00 in a research note on Wednesday, January 10th. Evercore ISI raised Duke Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $90.00 to $108.00 in a report on Tuesday, January 23rd. Scotiabank decreased their target price on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, BMO Capital Markets raised their price target on Duke Energy from $104.00 to $108.00 and gave the company an “outperform” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Duke Energy presently has an average rating of “Hold” and a consensus target price of $101.31.

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.