Duke Energy (NYSE:DUK) Issues Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Duke Energy (NYSE:DUK) issued its quarterly earnings results on Thursday. The utilities provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.11), Briefing.com reports. The company had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. Duke Energy’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 EPS. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS and its FY 2024 guidance to 5.850-6.100 EPS.

Duke Energy Trading Up 1.9 %

NYSE DUK opened at $113.23 on Friday. The firm’s 50-day moving average is $115.84 and its two-hundred day moving average is $108.73. Duke Energy has a 12 month low of $86.61 and a 12 month high of $121.25. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. The stock has a market capitalization of $87.44 billion, a P/E ratio of 20.85, a PEG ratio of 3.10 and a beta of 0.47.

Duke Energy Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.69%. Duke Energy’s payout ratio is currently 76.98%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DUK shares. The Goldman Sachs Group boosted their price target on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Wells Fargo & Company boosted their price target on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. Finally, Morgan Stanley upped their target price on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.