Duke Energy (NYSE:DUK) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Duke Energy (NYSE:DUK) issued its quarterly earnings data on Tuesday. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.05, Briefing.com reports. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.31 billion. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Duke Energy updated its FY24 guidance to $5.85-6.10 EPS.

Duke Energy Price Performance

DUK traded down $0.47 on Wednesday, hitting $101.79. 1,657,517 shares of the company’s stock traded hands, compared to its average volume of 3,014,533. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 1.50. Duke Energy has a one year low of $83.06 and a one year high of $102.64. The company’s 50 day simple moving average is $95.96 and its 200-day simple moving average is $94.37. The firm has a market cap of $78.53 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.67 and a beta of 0.45.

Wall Street Analysts Forecast Growth

DUK has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Duke Energy from $103.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Scotiabank cut their target price on shares of Duke Energy from $101.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada raised shares of Duke Energy from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $101.00 to $113.00 in a research note on Wednesday, January 10th. Bank of America lifted their target price on shares of Duke Energy from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Barclays lifted their price target 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. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Duke Energy has a consensus rating of “Hold” and a consensus price target of $101.31.

Insider Buying and Selling at Duke Energy

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