Duke Energy Set to Announce Earnings Amid Mixed Performance
Duke Energy Corporation (DUK), based in Charlotte, North Carolina, is a major player in electricity and natural gas markets. With a market capitalization of $85.6 billion, the company serves 8.4 million customers and operates 54,800 megawatts of electric capacity. Additionally, Duke invests in natural gas infrastructure, renewable gas, and storage solutions. The company will report its fiscal fourth-quarter earnings for 2024 before the market opens on Thursday, February 13.
Analysts Project Mixed Earnings Results
Preliminary forecasts indicate that DUK should post a profit of $1.62 per share on a diluted basis, which represents a 7.3% increase from $1.51 per share in the same quarter last year. The company has achieved positive earnings beyond expectations in two of the last four quarters, while falling short in the other two.
Full-Year Earnings Outlook
Looking ahead, analysts anticipate DUK will reveal earnings per share (EPS) of $5.92 for the entire fiscal year, reflecting a 6.5% rise from $5.56 reported for fiscal 2023. Projections for fiscal 2025 suggest an EPS of $6.33, which is expected to be a 6.9% increase year over year.
Duke Energy’s Stock Performance
Over the past 52 weeks, DUK stock has underperformed, gaining only 15.9% compared to the S&P 500’s increase of 25%. It also lagged behind the Utilities Select Sector SPDR Fund’s (XLU) 31.3% growth during the same period.
Recent Quarter Results and Analyst Sentiment
On November 7, DUK shares dropped by over 2% following the release of its Q3 results. The company posted an adjusted EPS of $1.62, which fell short of Wall Street’s expectation of $1.73. However, revenue reached $8.2 billion, surpassing forecasts of $8 billion. For the full year, DUK estimates adjusted EPS will fall between $5.85 and $6.10.
Overall, analysts hold a moderately bullish view on DUK stock, reflected in a “Moderate Buy” rating. Out of 21 industry analysts, 11 recommend a “Strong Buy,” one suggests a “Moderate Buy,” and nine advise “Hold.” The average analyst price target stands at $122.53, implying potential growth of 10.6% from current levels.
On the date of publication,
Neha Panjwani
did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more details, please refer to the Barchart Disclosure Policy
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
