Seaport Res Ptn Forecasts Reduced Earnings for Duke Energy

Duke Energy Co. (NYSE:DUK) – Stock analysts at Seaport Res Ptn decreased their FY2024 EPS estimates for Duke Energy in a research report issued to clients and investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings of $5.92 per share for the year, down from their prior forecast of $5.98. The consensus estimate for Duke Energy’s current full-year earnings is $5.95 per share.

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

Other equities research analysts have also recently issued research reports about the stock. KeyCorp cut shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Barclays boosted 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. Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. BMO Capital Markets upped their price objective on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Scotiabank lifted their target price on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.23.

Duke Energy Stock Performance

DUK stock opened at $106.24 on Tuesday. The firm has a 50-day simple moving average of $111.54 and a two-hundred day simple moving average of $111.59. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. Duke Energy has a one year low of $90.09 and a one year high of $121.25. The firm has a market cap of $82.07 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.90 and a beta of 0.49.

Hedge Funds Weigh In On Duke Energy

A number of institutional investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in Duke Energy during the third quarter valued at approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy during the 3rd quarter worth approximately $30,000. Sachetta LLC boosted its holdings in Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after buying an additional 96 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Duke Energy during the third quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC raised its position in shares of Duke Energy by 100.0% in the third quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Company Profile

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.