FY2024 Earnings Estimate for Duke Energy Co. (NYSE:DUK) Issued By Seaport Res Ptn

Duke Energy Co. (NYSE:DUK) – Equities researchers at Seaport Res Ptn reduced their FY2024 earnings per share estimates for shares of Duke Energy in a research note issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $5.98 per share for the year, down from their previous forecast of $6.00. The consensus estimate for Duke Energy’s current full-year earnings is $5.98 per share. Seaport Res Ptn also issued estimates for Duke Energy’s FY2025 earnings at $6.35 EPS and FY2026 earnings at $6.73 EPS.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, February 8th. The utilities provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.02). Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The business had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same period last year, the firm earned $1.11 EPS. The company’s revenue was down 1.9% compared to the same quarter last year.

DUK has been the subject of several other reports. Evercore ISI upgraded Duke Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $90.00 to $108.00 in a report on Tuesday, January 23rd. Scotiabank lowered their price target on 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 upgraded Duke Energy from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $101.00 to $113.00 in a report on Wednesday, January 10th. 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. Finally, KeyCorp raised their price target on Duke Energy from $106.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Duke Energy presently has a consensus rating of “Hold” and a consensus price target of $100.62.

Duke Energy Trading Down 1.3 %

Shares of NYSE DUK opened at $97.71 on Monday. The stock has a market cap of $75.38 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 2.60 and a beta of 0.46. The business has a 50 day simple moving average of $94.84 and a 200 day simple moving average of $93.80. Duke Energy has a 52 week low of $83.06 and a 52 week high of $100.13. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.49 and a current ratio of 0.74.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its stake in shares of Duke Energy by 7.9% in the third quarter. Exchange Traded Concepts LLC now owns 6,761 shares of the utilities provider’s stock worth $597,000 after purchasing an additional 497 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Duke Energy by 10.4% in the third quarter. Ballentine Partners LLC now owns 4,377 shares of the utilities provider’s stock worth $386,000 after purchasing an additional 413 shares during the last quarter. Golden State Equity Partners raised its stake in shares of Duke Energy by 2.8% in the third quarter. Golden State Equity Partners now owns 5,871 shares of the utilities provider’s stock worth $518,000 after purchasing an additional 160 shares during the last quarter. Bfsg LLC raised its stake in shares of Duke Energy by 6.0% in the third quarter. Bfsg LLC now owns 10,861 shares of the utilities provider’s stock worth $959,000 after purchasing an additional 615 shares during the last quarter. Finally, Avestar Capital LLC purchased a new stake in shares of Duke Energy in the third quarter worth approximately $211,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Louis E. Renjel sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $92.57, for a total transaction of $277,710.00. Following the transaction, the executive vice president now directly owns 14,213 shares of the company’s stock, valued at approximately $1,315,697.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.10% 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.