Brokers Offer Predictions for Duke Energy Co.’s Q2 2022 Earnings (NYSE:DUK)
Duke Energy Co. (NYSE:DUK – Get Rating) – Stock analysts at KeyCorp decreased their Q2 2022 EPS estimates for shares of Duke Energy in a note issued to investors on Wednesday, June 8th. KeyCorp analyst S. Karp now expects that the utilities provider will earn $1.13 per share for the quarter, down from their prior forecast of $1.14. KeyCorp currently has a “Overweight” rating and a $121.00 target price on the stock. KeyCorp also issued estimates for Duke Energy’s Q3 2022 earnings at $1.90 EPS, Q4 2022 earnings at $1.12 EPS and FY2026 earnings at $6.88 EPS. Duke Energy (NYSE:DUK – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The utilities provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The company had revenue of $7.13 billion during the quarter, compared to the consensus estimate of $6.32 billion. Duke Energy had a return on equity of 8.52% and a net margin of 14.47%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share.
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A number of other research firms have also weighed in on DUK. Morgan Stanley lowered their price objective on shares of Duke Energy from $123.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. StockNews.com began coverage on shares of Duke Energy in a research report on Thursday, March 31st. They set a “hold” rating for the company. Citigroup began coverage on shares of Duke Energy in a research report on Tuesday, March 22nd. They set a “buy” rating and a $120.00 price target for the company. Wells Fargo & Company increased their price target on shares of Duke Energy from $109.00 to $120.00 in a research report on Tuesday, May 10th. Finally, Credit Suisse Group decreased their price target on shares of Duke Energy from $125.00 to $117.00 in a research report on Tuesday, May 10th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Duke Energy presently has an average rating of “Hold” and an average target price of $112.42.
NYSE DUK opened at $110.49 on Thursday. The company’s 50-day moving average price is $112.19 and its 200-day moving average price is $106.24. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 1.26. The stock has a market cap of $85.07 billion, a PE ratio of 23.21, a PEG ratio of 3.36 and a beta of 0.34. Duke Energy has a 12 month low of $95.48 and a 12 month high of $116.33.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Friday, May 13th will be paid a dividend of $0.985 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $3.94 dividend on an annualized basis and a dividend yield of 3.57%. Duke Energy’s payout ratio is 82.77%.
In other news, EVP Julia S. Janson sold 3,876 shares of the stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $107.19, for a total transaction of $415,468.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven K. Young sold 415 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $112.55, for a total value of $46,708.25. Following the transaction, the chief financial officer now owns 114,487 shares in the company, valued at approximately $12,885,511.85. The disclosure for this sale can be found here. Insiders have sold a total of 11,086 shares of company stock worth $1,190,985 in the last ninety days. Corporate insiders own 0.10% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Peachtree Investment Partners LLC lifted its holdings in Duke Energy by 10.7% in the 1st quarter. Peachtree Investment Partners LLC now owns 3,352 shares of the utilities provider’s stock valued at $374,000 after purchasing an additional 324 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Duke Energy by 1.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 252,054 shares of the utilities provider’s stock valued at $28,144,000 after purchasing an additional 3,321 shares in the last quarter. Astoria Portfolio Advisors LLC. purchased a new position in Duke Energy in the 1st quarter valued at $251,000. Kestra Private Wealth Services LLC lifted its holdings in Duke Energy by 4.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 34,208 shares of the utilities provider’s stock valued at $3,820,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Gradient Investments LLC lifted its holdings in Duke Energy by 11.1% in the 1st quarter. Gradient Investments LLC now owns 7,648 shares of the utilities provider’s stock valued at $854,000 after purchasing an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 62.35% of the company’s stock.
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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