Duke Energy (NYSE:DUK) Issues Quarterly Earnings Results

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

Duke Energy Price Performance

DUK stock traded down $0.39 on Wednesday, reaching $101.87. 1,492,735 shares of the company’s stock were exchanged, compared to its average volume of 3,012,602. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average of $95.96 and a 200-day moving average of $94.37. Duke Energy has a twelve month low of $83.06 and a twelve month high of $102.64. The firm has a market cap of $78.59 billion, a PE ratio of 28.88, a P/E/G ratio of 2.67 and a beta of 0.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America increased their price target on Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Barclays lifted their price target on shares of Duke Energy from $99.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Mizuho boosted their target price on shares of Duke Energy from $89.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada raised Duke Energy from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $101.00 to $113.00 in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company decreased their target price on Duke Energy from $103.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.31.

Insider Buying and Selling at Duke Energy

In related news, EVP Louis E. Renjel sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $92.57, for a total value of $277,710.00. Following the completion of the transaction, the executive vice president now directly owns 14,213 shares of the company’s stock, valued at approximately $1,315,697.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.