Duke Energy Co. (NYSE:DUK) Plans $1.03 Quarterly Dividend

Duke Energy Co. (NYSE:DUKGet Free Report) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be paid a dividend of 1.025 per share by the utilities provider on Monday, June 17th. This represents a $4.10 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Thursday, May 16th.

Duke Energy has increased its dividend by an average of 2.1% per year over the last three years and has raised its dividend every year for the last 19 years. Duke Energy has a payout ratio of 64.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Duke Energy to earn $6.34 per share next year, which means the company should continue to be able to cover its $4.10 annual dividend with an expected future payout ratio of 64.7%.

Duke Energy Price Performance

DUK stock traded up $1.22 during trading on Wednesday, hitting $103.53. The company had a trading volume of 344,106 shares, compared to its average volume of 2,985,204. The firm has a market capitalization of $79.90 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 2.74 and a beta of 0.45. The business has a 50 day moving average of $96.86 and a 200 day moving average of $94.79. Duke Energy has a fifty-two week low of $83.06 and a fifty-two week high of $103.83. The company has a current ratio of 0.78, a quick ratio of 0.50 and a debt-to-equity ratio of 1.54.

Duke Energy (NYSE:DUKGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.39 by $0.05. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. The firm had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.31 billion. During the same period in the previous year, the business earned $1.20 earnings per share. Duke Energy’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Duke Energy will post 5.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DUK. Bank of America upped their target price on Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Evercore ISI upgraded Duke Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $90.00 to $108.00 in a report on Tuesday, January 23rd. Wells Fargo & Company cut their price target on Duke Energy from $103.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Scotiabank cut their target price on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, Mizuho upped their target price on Duke Energy from $89.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Duke Energy presently has a consensus rating of “Hold” and an average price target of $101.31.

Get Our Latest Stock Analysis on Duke Energy

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Julia S. Janson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $102.79, for a total value of $1,027,900.00. Following the completion of the transaction, the executive vice president now directly owns 68,657 shares in the company, valued at $7,057,253.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Duke Energy Company Profile

(Get Free Report)

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.

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Dividend History for Duke Energy (NYSE:DUK)

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