FY2024 Earnings Estimate for Duke Energy Issued By KeyCorp

Duke Energy Co. (NYSE:DUK) – Stock analysts at KeyCorp decreased their FY2024 EPS estimates for shares of Duke Energy in a research report issued to clients and investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $5.91 per share for the year, down from their previous forecast of $5.98. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Duke Energy’s current full-year earnings is $5.96 per share. KeyCorp also issued estimates for Duke Energy’s Q4 2024 earnings at $1.65 EPS, FY2025 earnings at $6.33 EPS and FY2027 earnings at $7.12 EPS.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 EPS.

A number of other research firms also recently commented on DUK. JPMorgan Chase & Co. raised 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. Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $116.00 to $121.00 in a research note on Tuesday, October 15th. Scotiabank increased their target price on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their price objective on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group started coverage on shares of Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 target price for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.69.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $112.04 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. The stock’s fifty day moving average price is $115.01 and its 200-day moving average price is $110.49. The firm has a market cap of $86.55 billion, a P/E ratio of 20.60, a P/E/G ratio of 3.00 and a beta of 0.47. Duke Energy has a 12 month low of $90.09 and a 12 month high of $121.25.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Old North State Trust LLC increased its position in shares of Duke Energy by 0.6% in the 3rd quarter. Old North State Trust LLC now owns 27,125 shares of the utilities provider’s stock valued at $3,128,000 after acquiring an additional 169 shares during the period. Tidal Investments LLC grew its stake in Duke Energy by 3.0% during the 3rd quarter. Tidal Investments LLC now owns 24,787 shares of the utilities provider’s stock valued at $2,858,000 after purchasing an additional 719 shares during the last quarter. Blankinship & Foster LLC acquired a new position in shares of Duke Energy in the third quarter valued at about $4,695,000. Destination Wealth Management raised its stake in shares of Duke Energy by 27.9% in the third quarter. Destination Wealth Management now owns 4,895 shares of the utilities provider’s stock worth $564,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in Duke Energy by 250.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 31,260 shares of the utilities provider’s stock valued at $3,604,000 after buying an additional 22,332 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 76.84%.

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.