Duke Energy Corp (NYSE:DUK) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors of record on Friday, May 17th will be paid a dividend of 0.9275 per share by the utilities provider on Monday, June 17th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Thursday, May 16th.
Duke Energy has increased its dividend by an average of 3.9% per year over the last three years and has increased its dividend every year for the last 12 years. Duke Energy has a dividend payout ratio of 78.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Duke Energy to earn $5.22 per share next year, which means the company should continue to be able to cover its $3.71 annual dividend with an expected future payout ratio of 71.1%.
NYSE DUK traded down $0.95 during trading hours on Thursday, reaching $86.85. 195,689 shares of the company’s stock were exchanged, compared to its average volume of 3,363,266. Duke Energy has a one year low of $71.96 and a one year high of $91.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.44 and a current ratio of 0.65. The stock has a market cap of $64.57 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 3.66 and a beta of 0.06.
Duke Energy (NYSE:DUK) last posted its earnings results on Thursday, May 9th. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Duke Energy had a return on equity of 7.80% and a net margin of 10.87%. The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.39 billion. During the same period in the prior year, the business earned $1.28 EPS. Duke Energy’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts predict that Duke Energy will post 4.94 EPS for the current year.
Several equities analysts have recently weighed in on DUK shares. Morgan Stanley raised their price target on shares of Duke Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 12th. Credit Suisse Group cut shares of Duke Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, February 15th. Bank of America raised their target price on shares of Duke Energy from $89.00 to $91.00 and gave the company a “neutral” rating in a research note on Monday, March 11th. Finally, ValuEngine downgraded Duke Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $86.10.
In related news, EVP Lloyd M. Yates sold 3,500 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $88.51, for a total value of $309,785.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lynn J. Good sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $89.92, for a total value of $1,348,800.00. The disclosure for this sale can be found here. Insiders have sold 21,250 shares of company stock valued at $1,900,878 in the last three months. Insiders own 0.09% of the company’s stock.
About Duke Energy
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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