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 guidance of $5.85-6.10 for the period, compared to the consensus earnings per share estimate of $5.98. Duke Energy also updated its FY 2024 guidance to 5.850-6.100 EPS.

Duke Energy Trading Down 0.4 %

Shares of NYSE:DUK opened at $113.62 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The firm has a market cap of $87.74 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 3.07 and a beta of 0.47. The company’s fifty day simple moving average is $115.89 and its 200 day simple moving average is $108.61. Duke Energy has a 12 month low of $86.61 and a 12 month high of $121.25.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating 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 company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts forecast that Duke Energy will post 5.98 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $1.045 per share. 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 3.68%. Duke Energy’s dividend payout ratio (DPR) is 76.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DUK. JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Wells Fargo & Company boosted their target price on shares of Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. KeyCorp cut shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their target price on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their price target on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock 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.