Duke Energy (NYSE:DUK) Releases Earnings Results, Beats Expectations By $0.05 EPS

Duke Energy (NYSE:DUK) released its quarterly earnings data on Tuesday. The utilities provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.05, Briefing.com reports. The company had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.31 billion. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. Duke Energy’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $1.20 earnings per share. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS.

Duke Energy Stock Up 0.1 %

Duke Energy stock traded up $0.08 during trading hours on Friday, hitting $103.10. The stock had a trading volume of 526,818 shares, compared to its average volume of 3,004,481. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $79.54 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45. The stock’s 50-day moving average price is $96.19 and its 200-day moving average price is $94.42. Duke Energy has a 12-month low of $83.06 and a 12-month high of $103.58.

Insider Activity at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 3,000 shares of Duke Energy stock in a transaction on Monday, February 12th. The shares were sold at an average price of $92.57, for a total value of $277,710.00. Following the sale, the executive vice president now directly owns 14,213 shares in the company, valued at approximately $1,315,697.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DUK. Scotiabank dropped their price objective on shares of Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Bank of America lifted their price target 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. Wells Fargo & Company reduced their target price on shares of Duke Energy from $103.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. BMO Capital Markets raised their price objective on Duke Energy from $104.00 to $108.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Evercore ISI raised Duke Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $90.00 to $108.00 in a research note on Tuesday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.31.

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.