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 earnings per share (EPS) guidance of 5.850-6.100 for the period, compared to the consensus 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 Trading Down 2.3 %

Shares of DUK traded down $2.62 during mid-day trading on Thursday, reaching $111.01. The company’s stock had a trading volume of 1,976,561 shares, compared to its average volume of 3,042,917. Duke Energy has a 52 week low of $86.61 and a 52 week high of $121.25. The stock has a market cap of $85.72 billion, a PE ratio of 20.92, a P/E/G ratio of 3.07 and a beta of 0.47. The company’s fifty day moving average price is $115.89 and its two-hundred day moving average price is $108.61. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56.

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

Duke Energy Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on DUK. Scotiabank increased their price target on shares of Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Bank of America boosted their target price on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Jefferies Financial Group began coverage on shares of Duke Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $138.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Evercore ISI lifted their price objective on Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.