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

Duke Energy (NYSE:DUK) 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.

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.