Duke Energy (NYSE:DUK) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Duke Energy (NYSE:DUK – Get Rating) posted its quarterly earnings results on Thursday. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.04), Briefing.com reports. The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $5.79 billion. Duke Energy had a net margin of 14.50% and a return on equity of 8.42%. Duke Energy’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 EPS. Duke Energy updated its FY22 guidance to $5.30-5.60 EPS and its FY 2022 guidance to $5.30-$5.60 EPS.

Duke Energy Stock Down 0.5 %

NYSE DUK traded down $0.57 during trading on Friday, hitting $109.16. The stock had a trading volume of 3,033,559 shares, compared to its average volume of 2,272,873. The company has a market capitalization of $84.04 billion, a PE ratio of 22.10, a P/E/G ratio of 3.35 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’s 50-day moving average price is $106.71 and its two-hundred day moving average price is $107.24. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.51 and a current ratio of 0.70.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, August 12th will be issued a dividend of $1.005 per share. The ex-dividend date of this dividend is Thursday, August 11th. This is an increase from Duke Energy’s previous quarterly dividend of $0.99. This represents a $4.02 dividend on an annualized basis and a dividend yield of 3.68%. Duke Energy’s dividend payout ratio (DPR) is presently 79.76%.

Analyst Ratings Changes

DUK has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on shares of Duke Energy from $109.00 to $120.00 in a report on Tuesday, May 10th. KeyCorp decreased their price objective on Duke Energy from $121.00 to $116.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Morgan Stanley increased their price target on shares of Duke Energy from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, July 21st. Credit Suisse Group cut shares of Duke Energy from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $112.00 to $114.00 in a report on Friday. Finally, Barclays cut their target price on shares of Duke Energy from $119.00 to $110.00 in a report on Monday, July 18th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.91.

Insider Transactions at Duke Energy

In other news, CFO Steven K. Young sold 415 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $44,716.25. Following the completion of the transaction, the chief financial officer now directly owns 114,072 shares in the company, valued at approximately $12,291,258. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 1,245 shares of company stock valued at $137,021 over the last 90 days. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fairfield Bush & CO. acquired a new stake in shares of Duke Energy in the 1st quarter valued at approximately $40,000. Covestor Ltd lifted its stake in Duke Energy by 447.8% in the 1st quarter. Covestor Ltd now owns 1,260 shares of the utilities provider’s stock valued at $141,000 after purchasing an additional 1,030 shares during the last quarter. Meridian Wealth Partners LLC bought a new position in Duke Energy during the first quarter worth about $305,000. Proficio Capital Partners LLC increased its position in Duke Energy by 17.6% during the first quarter. Proficio Capital Partners LLC now owns 2,770 shares of the utilities provider’s stock worth $309,000 after buying an additional 414 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its stake in Duke Energy by 10.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 2,799 shares of the utilities provider’s stock valued at $313,000 after buying an additional 270 shares during the period. 62.35% of the stock is currently owned by institutional investors.

Duke Energy Company Profile

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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.