12 Best Electrical Infrastructure Stocks to Buy According to Analysts

7. Duke Energy Corporation (NYSE:DUK)  

Average Analyst Upside: 13.18%

Number of Hedge Fund Holders: 46

Duke Energy Corporation (NYSE:DUK), a leading U.S.-based energy company, operates through two primary segments: Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I). The company is actively advancing its clean energy transition plan, aiming to achieve net-zero methane emissions from natural gas services and a 50% reduction in carbon emissions from electric generation by 2030.

BMO Capital recently revised its price target for Duke Energy Corporation (NYSE:DUK) to $124 from $128, while maintaining an Outperform rating. This adjustment followed Duke Energy’s Q3 earnings report, which revealed an EPS of $1.62—below BMO’s estimate of $1.68 and the consensus estimate of $1.69. While the company reaffirmed its 2024 full-year earnings guidance of $5.85 to $6.10, management anticipates results to land in the lower half of this range, citing financial impacts from recent storms, including restoration costs and revenue losses caused by widespread outages.

Despite short-term headwinds, Duke Energy’s management remains confident in its long-term EPS growth outlook of 5% to 7%, starting from the 2024 midpoint. The company plans to present a detailed update on its capital strategy, financing plans, and load growth by Q4.

Duke Energy Corporation (NYSE:DUK) has a strong track record of rewarding shareholders, with 97 consecutive years of dividend payments and 12 consecutive years of dividend increases. On November 15, the company declared a quarterly dividend of $1.045 per share, consistent with the previous payout, which was scheduled for December 16.

Investor sentiment showed some strengthening in Q3, with 46 hedge funds holding stakes in Duke Energy Corporation (NYSE:DUK), up from 37 funds in the prior quarter, according to Insider Monkey’s database.