Duke Energy Corp (NYSE:DUK) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders 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 4.22%. 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research 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%.
Shares of NYSE:DUK opened at $87.99 on Friday. Duke Energy has a 52 week low of $71.96 and a 52 week high of $91.67. The company has a quick ratio of 0.44, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $63.18 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.52 and a beta of 0.06.
A number of equities research analysts have issued reports on DUK shares. Morgan Stanley boosted their price target on Duke Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 12th. Bank of America boosted their price target on Duke Energy from $89.00 to $91.00 and gave the company a “neutral” rating in a research report on Monday, March 11th. Credit Suisse Group downgraded Duke Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Finally, ValuEngine downgraded Duke Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.10.
In other news, EVP Melissa H. Anderson sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $87.49, for a total value of $174,980.00. Following the completion of the sale, the executive vice president now owns 18,198 shares of the company’s stock, valued at $1,592,143.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Dhiaa M. Jamil sold 750 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $89.75, for a total value of $67,312.50. The disclosure for this sale can be found here. Insiders sold 21,250 shares of company stock valued at $1,900,878 in the last ninety days. Company 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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