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

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Duke Energy (DUK - Free Report) closed at $101.82 in the latest trading session, marking a -0.15% move from the prior day. This move lagged the S&P 500's daily gain of 1.89%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 10%.

Coming into today, shares of the electric utility had gained 0.02% in the past month. In that same time, the Utilities sector gained 0.8%, while the S&P 500 gained 2.3%.

Wall Street will be looking for positivity from Duke Energy as it approaches its next earnings report date. This is expected to be February 9, 2023. On that day, Duke Energy is projected to report earnings of $1.08 per share, which would represent year-over-year growth of 14.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.6 billion, up 5.75% from the year-ago period.

Investors should also note any recent changes to analyst estimates for Duke Energy. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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 0.11% lower. Duke Energy currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, Duke Energy is holding a Forward P/E ratio of 18. For comparison, its industry has an average Forward P/E of 17.07, which means Duke Energy is trading at a premium to the group.

Also, we should mention that DUK has a PEG ratio of 3.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 3.14 at yesterday's closing price.

The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 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.

Be sure to follow all of these stock-moving metrics, and many more, on

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