Duke Energy (DUK) Stock Forecast & Price Target

Duke Energy's stock outlook is bolstered by anticipated increases in capital expenditures (capex), particularly following the filing of its updated Carolinas Resource Plan, which is expected to reflect positively in 4Q25 results. The company is projected to achieve an average annual earnings per share (EPS) growth of just above 6.5%, with potential for management to further increase this forecast in future announcements. Additionally, steady population growth of approximately 2% in key markets such as the Carolinas, Florida, and Indiana supports the utility's prospects for sustained demand and expansion.

Duke Energy's dividend growth of approximately 2% per year significantly lags behind the utilities sector average of around 5.5%, raising concerns about its attractiveness to income-focused investors. This slower growth may indicate underlying challenges within the company's financial health or operational efficiency. Moreover, ongoing competitive pressures and shifting market dynamics could further dampen investor sentiment and affect future performance.