We are maintaining our $112 per share fair value estimate for narrow-moat Duke Energy after the company reported first-quarter adjusted earnings of $1.44 per share compared with $1.20 in the same year-ago quarter. Management reaffirmed their 2024 EPS guidance range of $5.85-$6.10, in line with our estimate.
Duke's regulated utilities provide a stable source of earnings. The company's large capital expenditure plan should drive rate base and earnings growth for the next several years. We think Duke can achieve the high end of management's 5%-7% earnings growth target.
Equity issuances and capital investment delays have hurt management's relationships with key stakeholders.
|
Metric
|
DUK
|
NEE
|
D
|
|---|---|---|---|
Price/Earnings (Normalized) | 17.40 | 23.20 | 25.98 |
Price/Book Value | 1.66 | 3.18 | 1.68 |
Price/Sales | 2.68 | 5.68 | 2.92 |
Price/Cash Flow | 7.87 | 11.53 | 7.47 |
|
Metric
|
DUK
|
NEE
|
D
|
|---|---|---|---|
Quick Ratio | 0.28 | 0.31 | 0.11 |
Current Ratio | 0.78 | 0.55 | 1.04 |
Interest Coverage | 2.59 | 3.19 | 2.63 |
|
Metric
|
DUK
|
NEE
|
D
|
|---|---|---|---|
Return on Assets (Normalized) | 2.50% | 3.73% | 2.77% |
Return on Equity (Normalized) | 9.51% | 13.95% | 11.17% |
Return on Invested Capital (Normalized) | 5.56% | 6.63% | 5.97% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
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|
Market Cap
|
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