Duke Energy Corporation (DUK), headquartered in Charlotte, North Carolina, generates, transmits, distributes, and sells electricity and natural gas. Valued at $85.6 billion by market cap, the company’s electric utilities serve 8.4 million customers, and own 54,800 megawatts of capacity, as well as invests in natural gas infrastructure, renewable natural gas, and storage projects. The leading energy company is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Thursday, Feb. 13.
Ahead of the event, analysts expect DUK to report a profit of $1.62 per share on a diluted basis, up 7.3% from $1.51 per share in the year-ago quarter. The company beat the consensus estimates in two of the last four quarters while missing the forecast on two other occasions.
For the full year, analysts expect DUK to report EPS of $5.92, up 6.5% from $5.56 in fiscal 2023. Its EPS is expected to rise 6.9% year over year to $6.33 in fiscal 2025.
DUK stock has underperformed the S&P 500’s ($SPX) 25% gains over the past 52 weeks, with shares up 15.9% during this period. Similarly, it underperformed the Utilities Select Sector SPDR Fund’s (XLU) 31.3% gains over the same time frame.
On Nov. 7, DUK shares closed down more than 2% after reporting its Q3 results. Its adjusted EPS of $1.62 missed Wall Street expectations of $1.73. The company’s revenue was $8.2 billion, exceeding Wall Street forecasts of $8 billion. DUK expects full-year adjusted EPS to be between $5.85 and $6.10.
Analysts’ consensus opinion on DUK stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 21 analysts covering the stock, 11 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and nine give a “Hold.” DUK’s average analyst price target is $122.53, indicating a potential upside of 10.6% from the current levels.
