Duke Energy (NYSE:DUK) Releases Quarterly Earnings Results, Misses Expectations By $0.11 EPS

by · The Markets Daily

Duke Energy (NYSE:DUK – Get Free Report) issued its quarterly earnings results on Thursday. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11), Briefing.com reports. The company had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.94 earnings per share. 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 Stock Up 1.9 %

NYSE:DUK traded up $2.15 during mid-day trading on Friday, hitting $113.23. The stock had a trading volume of 3,780,881 shares, compared to its average volume of 3,062,986. Duke Energy has a twelve month low of $86.61 and a twelve month high of $121.25. The stock has a 50-day simple moving average of $115.89 and a two-hundred day simple moving average of $108.61. 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 company has a market capitalization of $87.44 billion, a PE ratio of 20.46, a PEG ratio of 3.07 and a beta of 0.47.

Duke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.69%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio is presently 76.98%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DUK. Barclays lifted their target price on shares of Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Bank of America raised their target price on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Scotiabank upped their price objective on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. KeyCorp lowered Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Duke Energy in a research note on Thursday, August 29th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $121.85.

View Our Latest Analysis on Duke Energy

About Duke Energy

(Get Free Report)

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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