Duke Energy (NYSE:DUK) Releases FY24 Earnings Guidance

Duke Energy (NYSE:DUK) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.85-6.10 for the period, compared to the consensus estimate of $5.98. Duke Energy also updated its FY 2024 guidance to 5.850-6.100 EPS.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley upped their target price on Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. The Goldman Sachs Group upped their target price on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Wells Fargo & Company increased their price target on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Scotiabank increased their price target on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. increased their price target on Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Duke Energy has an average rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $113.62 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. The stock’s 50-day moving average is $115.89 and its 200 day moving average is $108.61. The stock has a market cap of $87.74 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 3.07 and a beta of 0.47. Duke Energy has a 1-year low of $86.61 and a 1-year high of $121.25.

Duke Energy (NYSE:DUK) last released its earnings results 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 business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Duke Energy will post 5.98 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 76.98%.

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.