Duke Energy (NYSE:DUK) Releases FY24 Earnings Guidance

Duke Energy (NYSE:DUK - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.85-6.10 for the period, compared to the consensus estimate of $5.97.

Duke Energy Price Performance

Shares of NYSE:DUK traded up $1.84 during trading on Tuesday, reaching $102.26. 3,801,871 shares of the company traded hands, compared to its average volume of 3,018,786. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.50. Duke Energy has a 52 week low of $83.06 and a 52 week high of $102.36. The firm has a market capitalization of $78.89 billion, a PE ratio of 28.35, a PEG ratio of 2.67 and a beta of 0.45. The company's 50 day moving average is $95.73 and its two-hundred day moving average is $94.26.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.02). Duke Energy had a return on equity of 8.93% and a net margin of 9.78%. The firm had revenue of $7.21 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same quarter in the previous year, the company earned $1.11 earnings per share. The company's quarterly revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Duke Energy will post 5.98 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on DUK. Scotiabank lowered their price target on Duke Energy from $101.00 to $94.00 and set a sector perform rating for the company in a report on Monday, April 22nd. BMO Capital Markets dropped their target price on shares of Duke Energy from $101.00 to $99.00 and set an outperform rating for the company in a report on Tuesday, April 16th. Wells Fargo & Company decreased their price target on shares of Duke Energy from $103.00 to $100.00 and set an overweight rating on the stock in a report on Friday, February 9th. Barclays increased their price objective on shares of Duke Energy from $99.00 to $100.00 and gave the company an overweight rating in a research note on Monday, April 15th. Finally, Royal Bank of Canada raised shares of Duke Energy from a sector perform rating to an outperform rating and boosted their target price for the stock from $101.00 to $113.00 in a research note on Wednesday, January 10th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Duke Energy has an average rating of Hold and a consensus price target of $100.62.

Insider Activity at Duke Energy

In other news, EVP Louis E. Renjel sold 3,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $92.57, for a total transaction of $277,710.00. Following the completion of the sale, the executive vice president now directly owns 14,213 shares in the company, valued at $1,315,697.41. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

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.