Scotiabank Weighs in on Duke Energy FY2024 Earnings

Duke Energy Co. (NYSE:DUK) – Equities research analysts at Scotiabank issued their FY2024 earnings per share estimates for Duke Energy in a report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel forecasts that the utilities provider will earn $5.95 per share for the year. Scotiabank has a “Sector Perform” rating and a $120.00 price target on the stock. The consensus estimate for Duke Energy’s current full-year earnings is $5.95 per share. Scotiabank also issued estimates for Duke Energy’s FY2025 earnings at $6.37 EPS.

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

Several other equities analysts have also recently weighed in on DUK. BMO Capital Markets raised their price objective on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $116.00 to $121.00 in a research report on Tuesday, October 15th. Barclays increased their price objective on Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Morgan Stanley lowered their target price on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group started coverage on shares of Duke Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $138.00 price target for the company. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.23.

Duke Energy Trading Down 2.1 %

NYSE DUK opened at $105.93 on Monday. The stock has a market capitalization of $81.83 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.88 and a beta of 0.47. Duke Energy has a 52 week low of $90.09 and a 52 week high of $121.25. The stock’s 50 day moving average price is $111.00 and its two-hundred day moving average price is $111.79. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70.

Institutional Trading of Duke Energy

A number of hedge funds have recently made changes to their positions in the company. Goodman Advisory Group LLC acquired a new position in Duke Energy in the 2nd quarter valued at approximately $2,888,000. Hilltop Holdings Inc. increased its stake in shares of Duke Energy by 59.2% in the third quarter. Hilltop Holdings Inc. now owns 23,388 shares of the utilities provider’s stock valued at $2,697,000 after buying an additional 8,699 shares during the period. Geode Capital Management LLC raised its position in shares of Duke Energy by 2.6% during the third quarter. Geode Capital Management LLC now owns 17,488,176 shares of the utilities provider’s stock worth $2,016,846,000 after acquiring an additional 442,302 shares during the last quarter. CCM Investment Advisers LLC lifted its stake in shares of Duke Energy by 24.3% in the fourth quarter. CCM Investment Advisers LLC now owns 83,610 shares of the utilities provider’s stock worth $9,008,000 after acquiring an additional 16,356 shares during the period. Finally, Commerce Bank boosted its holdings in Duke Energy by 5.9% in the third quarter. Commerce Bank now owns 269,217 shares of the utilities provider’s stock valued at $31,041,000 after acquiring an additional 15,069 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 14th will be paid a $1.045 dividend. The ex-dividend date is Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.95%. Duke Energy’s payout ratio is currently 76.84%.

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.