Duke Energy (NYSE:DUK) Releases FY 2022 Earnings Guidance

Duke Energy (NYSE:DUKGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $5.30-$5.60 for the period, compared to the consensus estimate of $5.46. The company issued revenue guidance of -.Duke Energy also updated its FY22 guidance to $5.30-5.60 EPS.

DUK traded down $1.89 during trading hours on Tuesday, hitting $108.91. The stock had a trading volume of 3,366,008 shares, compared to its average volume of 2,970,840. The company has a quick ratio of 0.42, a current ratio of 0.62 and a debt-to-equity ratio of 1.23. The stock has a market cap of $83.85 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 3.29 and a beta of 0.34. Duke Energy has a 1 year low of $95.48 and a 1 year high of $116.33. The company’s fifty day simple moving average is $110.34 and its 200 day simple moving average is $104.81.

Duke Energy (NYSE:DUKGet Rating) last posted its earnings results on Monday, May 9th. The utilities provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). The company had revenue of $7.13 billion for the quarter, compared to analysts’ expectations of $6.32 billion. Duke Energy had a net margin of 15.57% and a return on equity of 8.52%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 EPS. As a group, equities analysts expect that Duke Energy will post 5.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Friday, May 13th will be issued a dividend of $0.985 per share. This represents a $3.94 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, May 12th. Duke Energy’s payout ratio is presently 79.92%.

DUK has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on Duke Energy from $113.00 to $122.00 and gave the company an equal weight rating in a report on Wednesday, April 20th. Citigroup started coverage on Duke Energy in a report on Tuesday, March 22nd. They set a buy rating and a $120.00 target price for the company. Bank of America upgraded Duke Energy from a neutral rating to a buy rating and lifted their price target for the company from $108.00 to $110.00 in a research report on Monday, February 14th. KeyCorp lifted their price target on Duke Energy from $119.00 to $121.00 and gave the company an overweight rating in a research report on Wednesday, April 20th. Finally, StockNews.com started coverage on Duke Energy in a research report on Thursday, March 31st. They set a hold rating for the company. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $112.67.

In other Duke Energy news, EVP Julia S. Janson sold 3,876 shares of Duke Energy stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $107.19, for a total value of $415,468.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Louis E. Renjel sold 1,300 shares of Duke Energy stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $99.32, for a total value of $129,116.00. The disclosure for this sale can be found here. Insiders sold a total of 34,437 shares of company stock valued at $3,505,795 in the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Vident Investment Advisory LLC increased its stake in shares of Duke Energy by 6.8% during the fourth quarter. Vident Investment Advisory LLC now owns 16,068 shares of the utilities provider’s stock valued at $1,685,000 after buying an additional 1,025 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Duke Energy by 15.2% during the fourth quarter. EP Wealth Advisors LLC now owns 6,925 shares of the utilities provider’s stock valued at $726,000 after buying an additional 914 shares during the period. NewEdge Advisors LLC grew its stake in Duke Energy by 18.2% in the fourth quarter. NewEdge Advisors LLC now owns 63,510 shares of the utilities provider’s stock worth $6,663,000 after purchasing an additional 9,782 shares during the period. Kingsview Wealth Management LLC grew its stake in Duke Energy by 2.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 24,991 shares of the utilities provider’s stock worth $2,622,000 after purchasing an additional 548 shares during the period. Finally, First Community Trust NA purchased a new stake in Duke Energy in the fourth quarter worth $57,000. 62.35% of the stock is currently owned by institutional investors and hedge funds.

About Duke Energy (Get Rating)

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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Earnings History and Estimates for Duke Energy (NYSE:DUK)

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