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

Duke Energy (NYSE:DUK) issued its quarterly earnings data on Thursday. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11), Briefing.com reports. The company had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. 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 Trading Up 1.9 %

Shares of DUK opened at $113.23 on Friday. The stock has a market capitalization of $87.44 billion, a P/E ratio of 20.85, a PEG ratio of 3.07 and a beta of 0.47. Duke Energy has a twelve month low of $86.61 and a twelve month high of $121.25. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The firm has a fifty day simple moving average of $115.84 and a two-hundred day simple moving average of $108.73.

Duke Energy Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s payout ratio is 76.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DUK shares. Wells Fargo & Company raised their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group upped their price target on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $116.00 to $121.00 in a research note on Tuesday, October 15th. Barclays upped their target price on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, Jefferies Financial Group initiated coverage on Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and an average 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.