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

Duke Energy (NYSE:DUK) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 5.850-6.100 for the period, compared to the consensus EPS estimate of 5.970. The company issued revenue guidance of -.

Duke Energy Stock Performance

NYSE:DUK traded up $0.08 during mid-day trading on Wednesday, hitting $102.34. The stock had a trading volume of 568,746 shares, compared to its average volume of 3,001,087. The company’s 50 day simple moving average is $95.96 and its 200 day simple moving average is $94.37. The stock has a market cap of $78.95 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.67 and a beta of 0.45. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.49 and a current ratio of 0.74. Duke Energy has a twelve month low of $83.06 and a twelve month high of $102.46.

Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The company had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter last year, the company posted $1.20 EPS. Duke Energy’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Duke Energy will post 5.98 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on Duke Energy from $103.00 to $100.00 and set an overweight rating on the stock in a report on Friday, February 9th. Barclays boosted their target price on shares of Duke Energy from $99.00 to $100.00 and gave the stock an overweight rating in a report on Monday, April 15th. Royal Bank of Canada upgraded shares of Duke Energy from a sector perform rating to an outperform rating and lifted their price target for the stock from $101.00 to $113.00 in a report on Wednesday, January 10th. Mizuho upped their price target on Duke Energy from $89.00 to $99.00 and gave the company a neutral rating in a research report on Friday, April 5th. Finally, Bank of America lifted their price objective on Duke Energy from $96.00 to $100.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $100.62.

Insiders Place Their Bets

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

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.