Duke Energy
Generates and delivers electricity while distributing natural gas across six states.
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Profile
Generates, transmits and distributes electricity across the Carolinas, Florida and the Midwest, while a smaller regulated gas business serves the Carolinas, Ohio and Kentucky. Revenue is earned mainly through commission-approved utility rates that recover operating costs and capital investment.
Runs regulated Electric Utilities and Infrastructure and Gas Utilities and Infrastructure segments. The electric business generates, transmits, distributes and sells power through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio, serving the Carolinas, Florida and the Midwest with nuclear, natural gas, coal, hydroelectric, solar and battery assets.
Distributes natural gas through Piedmont Natural Gas and its Ohio and Kentucky franchises across the Carolinas and Midwest. The operating model centers on maintaining generation, grids and pipelines while replacing aging assets and adding capacity for load growth. Federal agencies oversee wholesale power, transmission, nuclear safety, pipelines and environmental compliance. Earnings and cash recovery depend on state commission-approved rates and timely recovery of prudent capital and fuel costs.
Company facts
Key statistics
Year to date +2.4% · Average volume (30d) 4.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Truist Financial | Target | $137 | $135 | ||
| Aug 5, 2026 | Mizuho Securities | Target | $135 | $136 | ||
| Aug 5, 2026 | Barclays | Reiterate | Overweight | $134 | $132 | |
| Jul 23, 2026 | KeyBanc | Upgrade | Sector Weight | Overweight | $114 | $139 |
| Jul 22, 2026 | Morgan Stanley | Target | $132 | $138 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $1.30 | $1.43 | +10.0% | $7.66B | $7.59B | −0.9% | −0.01% |
| May 5, 2026Q1 FY26 | $1.87 | $1.93 | +3.2% | $8.44B | $9.18B | +8.8% | −1.60% |
| Feb 10, 2026Q4 FY25 | $1.49 | $1.50 | +0.7% | $7.43B | $7.94B | +6.9% | +1.30% |
| Nov 6, 2025Q3 FY25 | $1.76 | $1.81 | +2.8% | $8.57B | $8.67B | +1.2% | −0.27% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $8.25B | $7.51B | $8.67B | $7.94B | $9.18B | $7.59B | |
| Gross profit | $4.28B | $2.23B | $8.56B | $2.42B | $6.23B | $5.55B | |
| Operating income | $2.34B | $1.82B | $2.33B | $2.10B | $2.73B | $2.05B | |
| Net income | $1.38B | $984.0M | $1.42B | $1.18B | $1.55B | $1.09B | |
| Diluted EPS | $1.76 | $1.25 | $1.81 | $1.50 | $1.97 | $1.38 | |
| Gross margin | 51.8% | 29.8% | 98.7% | 30.5% | 67.9% | 73.1% | |
| Operating margin | 28.4% | 24.2% | 26.9% | 26.5% | 29.7% | 27.0% |
Fiscal years (4-quarter sums)FY21 $24.98B · FY22 $28.77B · FY23 $29.06B · FY24 $30.36B · FY25 $32.36B
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $673.0M · Total debt $91.24B · Total assets $201.09B · Shareholders' equity $54.75B
Dividends
Raised for 41 straight years — most recently to $1.085 from $1.065 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 16 | $1.085 | raised from $1.065 |
| May 15, 2026 | May 15 | Jun 16 | $1.065 | |
| Feb 13, 2026 | Feb 13 | Mar 16 | $1.065 | |
| Nov 14, 2025 | Nov 14 | Dec 16 | $1.065 | |
| Aug 15, 2025 | Aug 15 | Sep 16 | $1.065 | raised from $1.045 |
| May 16, 2025 | May 16 | Jun 16 | $1.045 | |
| Feb 14, 2025 | Feb 14 | Mar 17 | $1.045 | |
| Nov 15, 2024 | Nov 15 | Dec 16 | $1.045 |
Ownership
Shares outstanding 779.60M · Float 777.66M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 70.54M | 9.05% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 50.84M | 6.52% | 13F | Aug 13, 2026 |
| State Street Corp | 44.95M | 5.77% | 13F | Aug 7, 2026 |
| Geode Capital Management, LLC | 20.37M | 2.61% | 13F | Aug 12, 2026 |
| Vanguard Portfolio Management LLC | 20.37M | 2.61% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 11, 2026 | Louis E. Renjel | officer: EVP&CEO DEF&MW&ChiefCorpAffOff | −3,500 | $125.15 |
| May 8, 2026 | Harry K. Sideris | director, officer: President, CEO | −20,000 | $124.37 |
| Mar 2, 2026 | Regis T. Repko | officer: SVP, System Planning&Construct | −663 | $131.00 |
| Mar 2, 2026 | Kodwo Ghartey-Tagoe | officer: EVP&CEO DECarolinas&NatGasBus | −18,246 | $131.57 |
| Feb 24, 2026 | Regis T. Repko | officer: SVP, System Planning&Construct | −962 | $127.86 |
Peers
- NextEra Energy
Florida dominant utility; world largest renewable energy generator.
- Southern Company
Southeast electric & gas utility peer with adjacent territory and nuclear fleet.
- Dominion Energy
Pure-play regulated utility in VA/Carolinas with adjacent NC territory.
- American Electric Power
Midwest/South regulated utility overlapping Duke in Ohio and Indiana.
- Exelon
Largest US regulated T&D utility by customers; capital-markets benchmark.
- Entergy
Gulf Coast regulated utility with nuclear fleet and MISO membership.
- Xcel Energy
Midwest/West regulated electric-gas utility; clean-energy transition benchmark.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Duke Energy | $120.20 | −0.02% | $93.75B | 18.1 | 17.7 | 2.8 | +1.1% |
| NextEra Energy | $81.84 | +0.02% | $170.72B | 18.3 | 19.9 | 5.9 | +12.5% |
| Southern Company | $92.05 | +4.32% | $101.52B | 21.3 | 18.9 | 3.4 | +0.1% |
| Dominion Energy | $65.52 | −0.02% | $57.63B | 22.8 | 17.1 | 3.1 | +17.6% |
| American Electric Power | $125.76 | +2.84% | $66.59B | 21.2 | 18.4 | 3.0 | +7.0% |
| Exelon | $44.08 | +0.38% | $45.26B | 16.0 | 14.9 | 1.8 | +10.0% |
| Entergy | $105.75 | +0.03% | $49.35B | 27.1 | 22.6 | 3.7 | +5.9% |
| Xcel Energy | $76.26 | −0.25% | $47.75B | 20.8 | 18.0 | 3.3 | −5.1% |
| Median | 21.2 | 18.4 | 3.3 | +7.0% |