What is KeyCorp’s Estimate for Duke Energy Q3 Earnings?

by · The Markets Daily

Duke Energy Co. (NYSE:DUK – Free Report) – Equities research analysts at KeyCorp dropped their Q3 2024 earnings per share estimates for Duke Energy in a research note issued on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $1.68 per share for the quarter, down from their prior forecast of $1.90. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Duke Energy’s current full-year earnings is $5.97 per share. KeyCorp also issued estimates for Duke Energy’s Q4 2024 earnings at $1.60 EPS, FY2024 earnings at $5.98 EPS, FY2025 earnings at $6.34 EPS, FY2027 earnings at $7.13 EPS and FY2028 earnings at $7.62 EPS.

Duke Energy (NYSE:DUK – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share.

Several other research firms have also recently commented on DUK. Morgan Stanley boosted their price target on Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price target on shares of Duke Energy in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company boosted their price target on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Bank of America boosted their price objective on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and an average target price of $121.85.

Check Out Our Latest Stock Report on DUK

Duke Energy Trading Up 0.6 %

Shares of DUK opened at $120.57 on Thursday. The stock’s 50-day moving average is $115.40 and its two-hundred day moving average is $107.25. The stock has a market cap of $93.05 billion, a PE ratio of 30.29, a P/E/G ratio of 3.06 and a beta of 0.46. Duke Energy has a 12 month low of $86.61 and a 12 month high of $121.25. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53.

Duke Energy Announces Dividend

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 issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 105.03%.

Insider Activity

In other news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the transaction, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Duke Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in Duke Energy by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,308 shares of the utilities provider’s stock worth $5,834,000 after purchasing an additional 13,056 shares during the period. BKM Wealth Management LLC acquired a new stake in Duke Energy during the 3rd quarter valued at $297,000. Convergence Financial LLC increased its stake in shares of Duke Energy by 16.6% in the third quarter. Convergence Financial LLC now owns 10,794 shares of the utilities provider’s stock worth $1,245,000 after acquiring an additional 1,538 shares during the last quarter. BayBridge Capital Group LLC acquired a new position in shares of Duke Energy in the third quarter worth $1,245,000. Finally, Lake Street Advisors Group LLC increased its stake in shares of Duke Energy by 3.5% in the third quarter. Lake Street Advisors Group LLC now owns 6,426 shares of the utilities provider’s stock worth $741,000 after acquiring an additional 215 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

About Duke Energy

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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.

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