Duke Energy (NYSE:DUK – Get Rating) issued an update on its FY23 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $5.55-5.75 for the period, compared to the consensus estimate of $5.74. Duke Energy also updated its FY 2022 guidance to $5.20-$5.30 EPS.
Duke Energy Trading Up 0.4 %
NYSE:DUK opened at $93.22 on Friday. The stock has a 50-day simple moving average of $98.44 and a 200-day simple moving average of $105.25. The stock has a market cap of $71.77 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.88 and a beta of 0.40. Duke Energy has a 1 year low of $83.76 and a 1 year high of $116.33. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.50 and a current ratio of 0.70.
Duke Energy (NYSE:DUK – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $5.79 billion. Duke Energy had a return on equity of 8.42% and a net margin of 14.50%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. As a group, analysts anticipate that Duke Energy will post 5.44 earnings per share for the current fiscal year.
Duke Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 18th will be issued a $1.005 dividend. This represents a $4.02 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Thursday, November 17th. Duke Energy’s payout ratio is currently 81.38%.
Analyst Ratings Changes
DUK has been the subject of several research reports. Barclays reduced their target price on Duke Energy from $119.00 to $110.00 in a report on Monday, July 18th. Mizuho cut their target price on Duke Energy from $114.00 to $100.00 and set a neutral rating for the company in a research note on Wednesday, October 5th. Wells Fargo & Company cut their target price on Duke Energy from $120.00 to $98.00 and set an equal weight rating for the company in a research note on Wednesday, October 19th. KeyCorp lowered their price target on Duke Energy from $116.00 to $108.00 and set an overweight rating on the stock in a report on Thursday, October 20th. Finally, StockNews.com began coverage on Duke Energy in a report on Wednesday, October 12th. They set a hold rating on the stock. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Duke Energy presently has an average rating of Hold and a consensus target price of $105.09.
Insider Transactions at Duke Energy
In other news, EVP Kodwo Ghartey-Tagoe sold 4,700 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $109.67, for a total transaction of $515,449.00. Following the sale, the executive vice president now owns 14,002 shares in the company, valued at $1,535,599.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kodwo Ghartey-Tagoe sold 4,700 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $109.67, for a total value of $515,449.00. Following the transaction, the executive vice president now directly owns 14,002 shares of the company’s stock, valued at approximately $1,535,599.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Dhiaa M. Jamil sold 700 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $109.93, for a total value of $76,951.00. Following the completion of the transaction, the chief operating officer now directly owns 58,957 shares in the company, valued at $6,481,143.01. The disclosure for this sale can be found here. Insiders have sold 7,819 shares of company stock worth $844,253 over the last quarter. 0.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Duke Energy
Hedge funds have recently bought and sold shares of the company. Mather Group LLC. grew its stake in Duke Energy by 5.2% in the first quarter. Mather Group LLC. now owns 6,505 shares of the utilities provider’s stock worth $726,000 after purchasing an additional 322 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Duke Energy by 50.0% in the first quarter. Edgestream Partners L.P. now owns 4,540 shares of the utilities provider’s stock valued at $507,000 after acquiring an additional 1,514 shares during the period. Tatro Capital LLC boosted its stake in Duke Energy by 3.7% in the first quarter. Tatro Capital LLC now owns 4,337 shares of the utilities provider’s stock valued at $484,000 after acquiring an additional 156 shares during the period. Red Wave Investments LLC boosted its stake in Duke Energy by 45.9% in the first quarter. Red Wave Investments LLC now owns 3,769 shares of the utilities provider’s stock valued at $421,000 after acquiring an additional 1,185 shares during the period. Finally, Centiva Capital LP acquired a new position in Duke Energy in the second quarter valued at approximately $380,000. 63.76% of the stock is currently owned by institutional investors and hedge funds.
Duke Energy Company Profile
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.
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