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Duke Energy (DUK) Gains As Market Dips: What You Should Know

In the latest trading session, Duke Energy (DUK) closed at $99.09, marking a +0.21% move from the previous day. This change outpaced the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 2.14%.

Heading into today, shares of the electric utility had gained 2.5% over the past month, lagging the Utilities sector's gain of 4.94% and the S&P 500's gain of 5.1% in that time.

Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be May 9, 2023. On that day, Duke Energy is projected to report earnings of $1.31 per share, which would represent year-over-year growth of 0.77%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.32 billion, up 2.71% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.61 per share and revenue of $29.42 billion, which would represent changes of +6.45% and +0.96%, respectively, from the prior year.

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Any recent changes to analyst estimates for Duke Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% lower. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Duke Energy currently has a Forward P/E ratio of 17.61. This represents a discount compared to its industry's average Forward P/E of 17.72.

Also, we should mention that DUK has a PEG ratio of 2.85. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Utility - Electric Power was holding an average PEG ratio of 2.97 at yesterday's closing price.

The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 106, putting it in the top 43% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Duke Energy Corporation (DUK) : Free Stock Analysis Report

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