Duke Energy FY2024 EPS Forecast Decreased by Zacks Research

Duke Energy Co. (NYSE:DUK) – Analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for shares of Duke Energy in a report released on Thursday, November 28th. Zacks Research analyst A. Dutta now anticipates that the utilities provider will post earnings per share of $5.92 for the year, down from their previous forecast of $5.96. The consensus estimate for Duke Energy’s current full-year earnings is $5.96 per share. Zacks Research also issued estimates for Duke Energy’s Q4 2024 earnings at $1.68 EPS, Q4 2025 earnings at $1.83 EPS, Q2 2026 earnings at $1.42 EPS and FY2026 earnings at $6.68 EPS.

Other equities analysts have also recently issued reports about the company. Scotiabank upped their price objective on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Evercore ISI boosted their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group started coverage on Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.69.

Duke Energy Stock Down 1.3 %

Shares of NYSE:DUK opened at $113.64 on Monday. The firm has a market capitalization of $87.78 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 3.04 and a beta of 0.47. 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 52-week low of $90.09 and a 52-week high of $121.25. The firm has a fifty day moving average of $115.09 and a 200 day moving average of $110.44.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The company had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 earnings per share.

Hedge Funds Weigh In On Duke Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC grew its holdings in shares of Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 119 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Duke Energy in the third quarter worth $29,000. Olistico Wealth LLC bought a new position in Duke Energy in the second quarter worth $30,000. Northwest Investment Counselors LLC purchased a new position in Duke Energy during the third quarter valued at $30,000. Finally, Sachetta LLC grew its position in shares of Duke Energy by 41.9% in the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.68%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is currently 76.84%.

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.