What is KeyCorp’s Forecast for Duke Energy FY2024 Earnings?

Duke Energy Co. (NYSE:DUK) – Analysts at KeyCorp decreased their FY2024 earnings per share (EPS) estimates for shares of Duke Energy in a research report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $5.91 for the year, down from their prior estimate of $5.98. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Duke Energy’s current full-year earnings is $5.95 per share. KeyCorp also issued estimates for Duke Energy’s Q4 2024 earnings at $1.65 EPS, FY2025 earnings at $6.33 EPS and FY2027 earnings at $7.12 EPS.

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

A number of other research analysts also recently weighed in on DUK. Barclays upped their target price on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Morgan Stanley reduced their price target on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. BMO Capital Markets boosted their target price 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. Scotiabank increased their price target on shares of Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Bank of America boosted their price objective on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.69.

Duke Energy Price Performance

Shares of NYSE DUK opened at $112.10 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.70 and a quick ratio of 0.45. Duke Energy has a 1 year low of $90.09 and a 1 year high of $121.25. The company’s 50-day moving average is $114.93 and its 200 day moving average is $110.59. The stock has a market capitalization of $86.60 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.99 and a beta of 0.47.

Hedge Funds Weigh In On Duke Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PBMares Wealth Management LLC lifted its holdings in shares of Duke Energy by 1.8% during the third quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock valued at $563,000 after purchasing an additional 86 shares in the last quarter. Pinnacle West Asset Management Inc. raised its position in Duke Energy by 2.1% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock worth $444,000 after buying an additional 90 shares during the last quarter. Castleview Partners LLC lifted its stake in Duke Energy by 4.9% during the 3rd quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 90 shares during the period. Kanawha Capital Management LLC boosted its holdings in shares of Duke Energy by 1.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock valued at $760,000 after acquiring an additional 92 shares during the last quarter. Finally, Baron Wealth Management LLC grew its stake in shares of Duke Energy by 3.5% in the third quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock worth $315,000 after acquiring an additional 92 shares during the period. 65.31% of the stock is owned by institutional investors.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.73%. 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.