Duke Energy (NYSE:DUK) Announces Quarterly Earnings Results

Duke Energy (NYSE:DUK) posted its quarterly earnings results on Thursday. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11), Briefing.com reports. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The company had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the business posted $1.94 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS and its FY 2024 guidance to 5.850-6.100 EPS.

Duke Energy Price Performance

Shares of DUK traded up $2.15 during mid-day trading on Friday, hitting $113.23. 3,780,881 shares of the company were exchanged, compared to its average volume of 3,062,986. The stock has a market cap of $87.44 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth 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. The company has a 50 day moving average of $115.89 and a 200-day moving average of $108.61. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a dividend yield of 3.69%. Duke Energy’s dividend payout ratio (DPR) is 76.98%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Evercore ISI raised their price objective on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. KeyCorp downgraded shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. 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. Jefferies Financial Group assumed coverage on Duke Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $138.00 price objective for the company. Finally, BMO Capital Markets upped their target price on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Duke Energy currently has a consensus 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.