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

Duke Energy (NYSE:DUK) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 5.850-6.100 for the period, compared to the consensus earnings per share estimate of 5.970. The company issued revenue guidance of -. Duke Energy also updated its FY24 guidance to $5.85-6.10 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DUK. Scotiabank lifted their price target on Duke Energy from $94.00 to $104.00 and gave the company a sector perform rating in a report on Wednesday. Bank of America lifted their price target on Duke Energy from $96.00 to $100.00 and gave the company a neutral rating in a report on Thursday, April 11th. Morgan Stanley reduced their price target on Duke Energy from $103.00 to $98.00 and set an equal weight rating for the company in a report on Monday, June 24th. BMO Capital Markets lifted their price target on Duke Energy from $114.00 to $120.00 and gave the company an outperform rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price objective on Duke Energy from $110.00 to $122.00 and gave the company an overweight rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $106.75.

Duke Energy Stock Performance

NYSE DUK traded up $0.23 during trading on Friday, hitting $112.66. The company’s stock had a trading volume of 2,218,653 shares, compared to its average volume of 2,968,208. The company has a quick ratio of 0.50, a current ratio of 0.78 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average price of $104.47 and a 200 day moving average price of $99.28. The firm has a market cap of $86.95 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. Duke Energy has a 52 week low of $83.06 and a 52 week high of $116.67.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. Equities research analysts forecast that Duke Energy will post 5.97 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a $1.045 dividend. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Friday, August 16th. Duke Energy’s payout ratio is currently 105.03%.

Insiders Place Their Bets

In other news, Director E Marie Mckee sold 1,695 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $102.31, for a total transaction of $173,415.45. Following the sale, the director now directly owns 4 shares in the company, valued at $409.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director E Marie Mckee sold 1,695 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $102.31, for a total transaction of $173,415.45. Following the sale, the director now directly owns 4 shares in the company, valued at $409.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lynn J. Good sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total value of $1,549,500.00. Following the sale, the chief executive officer now owns 437,464 shares in the company, valued at $45,190,031.20. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

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.