Duke Energy (NYSE:DUK) Releases FY 2024 Earnings Guidance

Duke Energy (NYSE:DUK) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 5.850-6.100 for the period, compared to the consensus estimate of 5.970. The company issued revenue guidance of -. Duke Energy also updated its FY24 guidance to $5.85-6.10 EPS.

Duke Energy Trading Up 1.7 %

NYSE:DUK opened at $112.89 on Wednesday. Duke Energy has a 12 month low of $83.06 and a 12 month high of $116.67. The firm has a fifty day simple moving average of $103.98 and a 200-day simple moving average of $99.09. The company has a current ratio of 0.78, a quick ratio of 0.50 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $87.13 billion, a P/E ratio of 28.36, a PEG ratio of 3.09 and a beta of 0.45.

Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $6.84 billion. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, equities research analysts anticipate that Duke Energy will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a $1.045 dividend. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.18 dividend on an annualized basis and a yield of 3.70%. Duke Energy’s payout ratio is presently 105.03%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DUK shares. Barclays boosted their target price on shares of Duke Energy from $99.00 to $102.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Bank of America boosted their target price on shares of Duke Energy from $96.00 to $100.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Scotiabank cut their target price on shares of Duke Energy from $101.00 to $94.00 and set a sector perform rating for the company in a research note on Monday, April 22nd. Morgan Stanley cut their target price on shares of Duke Energy from $103.00 to $98.00 and set an equal weight rating for the company in a research note on Monday, June 24th. Finally, KeyCorp upped their price objective on shares of Duke Energy from $112.00 to $114.00 and gave the company an overweight rating in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $102.58.

Insider Activity

In other news, EVP Julia S. Janson sold 10,000 shares of Duke Energy stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $102.79, for a total value of $1,027,900.00. Following the sale, the executive vice president now owns 68,657 shares of the company’s stock, valued at $7,057,253.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director E Marie Mckee sold 1,695 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total transaction of $173,415.45. Following the sale, the director now owns 4 shares of the company’s stock, valued at $409.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Julia S. Janson sold 10,000 shares of Duke Energy stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $102.79, for a total transaction of $1,027,900.00. Following the transaction, the executive vice president now owns 68,657 shares of the company’s stock, valued at approximately $7,057,253.03. The disclosure for this sale can be found here. Insiders have sold a total of 26,695 shares of company stock valued at $2,750,815 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

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.