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

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

Duke Energy Stock Up 0.5 %

DUK stock traded up $0.48 during midday trading on Thursday, hitting $102.86. 788,694 shares of the company’s stock were exchanged, compared to its average volume of 3,010,384. 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 12-month low of $83.06 and a 12-month high of $103.03. The firm has a 50 day moving average price of $95.96 and a 200-day moving average price of $94.37. The stock has a market capitalization of $79.35 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DUK shares. BMO Capital Markets boosted their price objective on shares of Duke Energy from $104.00 to $108.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays upped their price target on Duke Energy from $99.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company reduced their price objective on Duke Energy from $103.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Royal Bank of Canada raised Duke Energy from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $101.00 to $113.00 in a research note on Wednesday, January 10th. Finally, Scotiabank reduced their price objective on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.31.

Insiders Place Their Bets

In other news, EVP Louis E. Renjel sold 3,000 shares of Duke Energy 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 completion of the transaction, the executive vice president now owns 14,213 shares in the company, valued at approximately $1,315,697.41. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is 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.