Duke Energy (DUK)
NYSE:DUK
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Duke Energy
(NYSE:DUK)
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Rating:68Neutral
Price Target:
$139.00
â–²(8.57% Upside)
Action:DowngradedDate:05/05/26
The score is driven primarily by solid operating performance and constructive earnings outlook/guidance (reaffirmed EPS range and long-term growth), supported by shareholder-friendly income (3.33% dividend yield). Offsetting factors are balance-sheet leverage and historically inconsistent free cash flow, plus currently soft technical momentum with price below short-term moving averages and a negative MACD.
Positive Factors
Regulated, rate‑base business model
A predominantly regulated utility model provides durable, predictable cash flows because revenues and returns are tied to approved rate base and cost recovery mechanisms. This reduces demand-driven volatility and supports multi-year capital spending plans that grow the regulated asset base and allowed earnings.
Negative Factors
High financial leverage
Elevated and rising debt loads constrain financial flexibility, increase interest expense sensitivity, and tighten headroom against credit downgrades. For a capital‑intensive utility, higher leverage raises the risk that future financing costs or regulatory outcomes could pressure margins or limit discretionary investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated, rate‑base business model
A predominantly regulated utility model provides durable, predictable cash flows because revenues and returns are tied to approved rate base and cost recovery mechanisms. This reduces demand-driven volatility and supports multi-year capital spending plans that grow the regulated asset base and allowed earnings.
Read all positive factors
Duke Energy (DUK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$99.18B
Dividend Yield3.61%
Average Volume (3M)4.12M
Price to Earnings (P/E)19.2
Beta (1Y)-0.10
Revenue Growth6.19%
EPS Growth11.06%
CountryUS
Employees26,413
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)6.32
Shares Outstanding778,216,700
10 Day Avg. Volume3,053,228
30 Day Avg. Volume4,119,469
Financial Highlights & Ratios
PEG Ratio1.74
Price to Book (P/B)1.76
Price to Sales (P/S)2.83
P/FCF Ratio-54.47
Enterprise Value/Market Cap1.89
Enterprise Value/Revenue5.79
Enterprise Value/Gross Profit10.71
Enterprise Value/Ebitda11.96
Forecast
1Y Price Target
$139.40Price Target Upside8.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)6.7
Revenue Forecast (FY)$33.06B
Duke Energy Business Overview & Revenue Model
Company Description
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. Th...
How the Company Makes Money
Duke Energy primarily makes money through regulated utility operations. Most revenue comes from selling electricity to end-use customers within state-regulated service territories via retail rates set (or periodically reset) through public utility...
Duke Energy Key Performance Indicators (KPIs)
Any
Electric Utilities by Segment
Details revenue and performance across various electric utility segments, indicating operational strengths, customer base diversity, and market position.
Details revenue and performance across various electric utility segments, indicating operational strengths, customer base diversity, and market position.
Data provided by:
The Fly
The FlyDuke Energy Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call reflected strong operational and financial momentum: double-digit reported EPS growth year-over-year, reaffirmed full-year guidance, large tax-credit monetization and regulatory approvals providing multi-billion-dollar customer benefits, sizable late-stage economic development pipeline and active generation build execution. Management also highlighted balance sheet actions to fund a $103 billion capital plan and maintained a long record of dividend payments. The main challenges are near-term cost pressures from higher O&M and depreciation (including storm response), regulatory/affordability scrutiny in the Carolinas, unresolved execution and financing risks for new nuclear builds, and the long lead times and concentration risk associated with large data center loads. On balance, the positive operational wins, strong cash proceeds and constructive regulatory achievements materially outweigh the near-term headwinds.Positive Updates
Quarterly EPS Growth
Reported EPS $1.97 and adjusted EPS $1.93 in Q1 2026 versus $1.76 a year ago — reported EPS up $0.21 (+11.9%) and adjusted EPS up $0.17 (+9.7%).
Negative Updates
Higher O&M and Depreciation Expense
Q1 results were partially offset by higher O&M and depreciation on a growing asset base. Management noted increased storm-related O&M from winter storms and is targeting flat O&M for the full year, indicating near-term cost pressure.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly EPS Growth
Reported EPS $1.97 and adjusted EPS $1.93 in Q1 2026 versus $1.76 a year ago — reported EPS up $0.21 (+11.9%) and adjusted EPS up $0.17 (+9.7%).
Read all positive updates
Company Guidance
Duke reaffirmed 2026 adjusted EPS guidance of $6.55–$6.80 and a 5%–7% long‑term EPS growth rate through 2030 (with confidence to earn in the top half of that range beginning in 2028); Q1 reported and adjusted EPS were $1.97 and $1.93 (vs. $1.76 a year ago), with Electric Utilities & Infrastructure up $0.16 and Gas up $0.01. Management expects new large customers to begin taking energy as early as H2 2027 into 2028 and ramp to full contracted load into the early–mid 2030s, having signed ~7.6 GW of ESAs (2.7 GW this quarter, nearly two‑thirds under construction) and holding a late‑stage pipeline of 15.4 GW. The company plans to add 14 GW of generation over five years (5 GW gas under construction, 2.5 GW in development), is executing a $103 billion capital plan, and has strengthened liquidity with >$5 billion of proceeds received (a $2.8B Brookfield tranche and $2.5B Piedmont sale), a monetization agreement for up to $3.1B of clean energy tax credits through 2028, estimated $2.3B of customer savings from the Carolina utility combination (effective Jan 1, 2027), $1.5B of 3% convertible notes issued, $300M priced on the ATM (settling Dec 2027), a 2026 FFO/debt target of 14.5% (15% long term), and a continued focus on flat O&M for the year.Duke Energy Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 32.24B | 30.36B | 29.06B | 28.77B | 24.62B |
| Gross Profit | 10.17B | 15.20B | 13.76B | 12.98B | 11.96B |
| EBITDA | 15.67B | 15.00B | 13.87B | 12.36B | 11.86B |
| Net Income | 4.97B | 4.51B | 4.30B | 2.55B | 3.91B |
Balance Sheet | |||||
| Total Assets | 195.74B | 186.34B | 176.89B | 178.09B | 169.59B |
| Cash, Cash Equivalents and Short-Term Investments | 245.00M | 314.00M | 253.00M | 409.00M | 341.00M |
| Total Debt | 90.87B | 85.23B | 80.46B | 74.91B | 68.26B |
| Total Liabilities | 142.72B | 135.09B | 126.71B | 126.23B | 118.45B |
| Stockholders Equity | 51.84B | 50.13B | 49.11B | 49.32B | 49.30B |
Cash Flow | |||||
| Free Cash Flow | -1.67B | 48.00M | -2.73B | -5.44B | -1.43B |
| Operating Cash Flow | 12.35B | 12.33B | 9.88B | 5.93B | 8.29B |
| Investing Cash Flow | -14.36B | -13.12B | -12.47B | -11.97B | -10.94B |
| Financing Cash Flow | 1.95B | 859.00M | 2.35B | 6.13B | 2.61B |
Duke Energy Technical Analysis
Neutral
128.03
Price Trends
129.10
Negative
123.22
Positive
121.83
Positive
Market Momentum
0.04
Positive
42.89
Neutral
15.99
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DUK, the sentiment is Neutral. The current price of 128.03 is below the 20-day moving average (MA) of 129.96, below the 50-day MA of 129.10, and above the 200-day MA of 121.83, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 42.89 is Neutral, neither overbought nor oversold. The STOCH value of 15.99 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DUK.
Duke Energy Risk Analysis
Duke Energy disclosed 32 risk factors in its most recent earnings report. Duke Energy reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Duke Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $88.10B | 21.62 | 7.66% | 4.03% | -7.05% | 38.24% | |
72 Outperform | $73.20B | 25.70 | 12.06% | 3.25% | 10.46% | 19.64% | |
68 Neutral | $99.18B | 19.23 | 9.69% | 3.61% | 6.19% | 11.06% | |
67 Neutral | $55.36B | 21.87 | 10.77% | 4.59% | 19.15% | 27.09% | |
66 Neutral | $108.21B | 20.00 | 12.28% | 3.40% | 8.33% | -6.26% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
56 Neutral | $47.68B | 18.55 | 9.87% | 3.68% | 5.34% | 11.60% |
* Utilities Sector Average
DUK
Duke Energy
127.45
8.72
7.34%
AEP
American Electric Power
134.66
30.69
29.52%
D
Dominion Energy
62.95
10.69
20.45%
EXC
Exelon
46.61
1.91
4.28%
NGG
National Grid Transco
87.50
18.21
26.27%
SO
Southern Co
95.99
7.67
8.68%
Duke Energy Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Duke Energy Subsidiary Completes Tennessee Gas Business Sale
Positive
Apr 1, 2026
Piedmont Natural Gas, a wholly owned Duke Energy subsidiary, completed the sale of its Tennessee natural gas local distribution company business to Spire Tennessee Inc. for $2.48 billion in cash on March 31, 2026, following a purchase agreement si...
Private Placements and Financing
Duke Energy Completes $1.5 Billion Convertible Notes Offering
Neutral
Mar 12, 2026
On March 12, 2026, Duke Energy completed a $1.5 billion private offering of 3.000% Convertible Senior Notes due 2029 to qualified institutional buyers under Rule 144A. The senior unsecured notes, which cannot be redeemed early by the company, pay ...
Business Operations and StrategyPrivate Placements and Financing
Duke Energy Upsizes Convertible Notes Offering to Refinance Debt
Positive
Mar 10, 2026
On March 10, 2026, Duke Energy priced an upsized private offering of $1.3 billion of 3.000% convertible senior notes due 2029, increased from a previously planned $1 billion, and granted initial purchasers an option for an additional $200 million....
Business Operations and StrategyPrivate Placements and Financing
Duke Energy Announces $1 Billion Convertible Notes Offering
Neutral
Mar 9, 2026
On March 9, 2026, Duke Energy announced a proposed private offering of $1 billion in convertible senior notes due 2029, with an option for initial purchasers to buy an additional $150 million, targeting qualified institutional buyers under Rule 14...
Private Placements and FinancingRegulatory Filings and Compliance
Duke Energy Indiana Completes $500 Million Bond Issuance
Positive
Mar 6, 2026
On March 6, 2026, Duke Energy Indiana completed a $500 million issuance and sale of First Mortgage Bonds, Series DDDD, carrying a 4.95% coupon and maturing March 15, 2036, under an underwriting agreement signed March 4, 2026. The bonds, issued at ...
Business Operations and StrategyPrivate Placements and Financing
Duke Energy Launches $6 Billion At-The-Market Equity Program
Neutral
Mar 6, 2026
On March 6, 2026, Duke Energy Corporation established a new at-the-market equity distribution program, entering into an Equity Distribution Agreement with a syndicate of banks and broker-dealers that will act as sales agents to sell up to $6 billi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.