Duke Energy FY2024 EPS Estimate Decreased by Seaport Res Ptn

Duke Energy Co. (NYSE:DUK) – Analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Duke Energy in a research report issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $5.92 per share for the year, down from their previous estimate of $5.98. The consensus estimate for Duke Energy’s current full-year earnings is $5.95 per share.

Duke Energy (NYSE:DUK) last released 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 company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. Duke Energy’s 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 EPS.

Several other research firms have also recently commented on DUK. Scotiabank raised their price target on Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays raised their price objective on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Jefferies Financial Group started coverage on Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 target price on the stock. Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from $116.00 to $121.00 in a research note on Tuesday, October 15th. Finally, BMO Capital Markets upped their price target on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.23.

Duke Energy Stock Performance

Shares of DUK stock opened at $106.67 on Tuesday. Duke Energy has a 1 year low of $90.09 and a 1 year high of $121.25. The firm has a market cap of $82.40 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.90 and a beta of 0.49. The stock’s 50-day moving average is $111.39 and its two-hundred day moving average is $111.64. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70.

Hedge Funds Weigh In On Duke Energy

Several hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC grew its position in shares of Duke Energy by 11,471.4% in the third quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock valued at $781,500,000 after purchasing an additional 6,719,398 shares in the last quarter. Groupama Asset Managment bought a new stake in Duke Energy during the third quarter valued at approximately $2,537,000. Zimmer Partners LP bought a new position in shares of Duke Energy in the 3rd quarter worth $166,263,000. International Assets Investment Management LLC raised its position in shares of Duke Energy by 13,829.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,125,607 shares of the utilities provider’s stock valued at $129,782,000 after buying an additional 1,117,526 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Duke Energy by 65.7% during the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock worth $205,769,000 after acquiring an additional 813,744 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

About Duke Energy

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.