Duke Energy (NYSE:DUK) Issues Earnings Results

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

Duke Energy Price Performance

NYSE:DUK traded down $0.39 during mid-day trading on Wednesday, hitting $101.87. The company’s stock had a trading volume of 1,492,735 shares, compared to its average volume of 3,012,602. Duke Energy has a fifty-two week low of $83.06 and a fifty-two week high of $102.64. The company has a market capitalization of $78.59 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.67 and a beta of 0.45. The stock has a fifty day moving average of $95.96 and a 200-day moving average of $94.37. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 1.50.

Insider Transactions at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 3,000 shares of Duke Energy stock in a transaction on Monday, February 12th. The stock was sold at an average price of $92.57, for a total transaction 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 $1,315,697.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DUK has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Duke Energy from $103.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Evercore ISI raised shares of Duke Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $90.00 to $108.00 in a research report on Tuesday, January 23rd. Bank of America increased their price objective on Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Barclays boosted their target price on Duke Energy from $99.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Mizuho boosted their price objective 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $101.31.

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.