Duke Energy Corp (NYSE:DUK) announced a quarterly dividend on Monday, July 8th, RTT News reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.945 per share by the utilities provider on Monday, September 16th. This represents a $3.78 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from Duke Energy’s previous quarterly dividend of $0.93.
Duke Energy has increased its dividend payment by an average of 3.9% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Duke Energy has a payout ratio of 80.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Duke Energy to earn $5.14 per share next year, which means the company should continue to be able to cover its $3.78 annual dividend with an expected future payout ratio of 73.5%.
DUK opened at $89.47 on Tuesday. Duke Energy has a fifty-two week low of $78.00 and a fifty-two week high of $91.67. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.71 and a quick ratio of 0.47. The business’s fifty day simple moving average is $88.60. The firm has a market capitalization of $65.39 billion, a P/E ratio of 18.96, a P/E/G ratio of 3.71 and a beta of 0.12.
Several brokerages have recently commented on DUK. JPMorgan Chase & Co. set a $90.00 target price on shares of Duke Energy and gave the company a “hold” rating in a research note on Monday, May 20th. Barclays reduced their target price on shares of Duke Energy from $96.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Citigroup reduced their target price on shares of Duke Energy from $91.00 to $88.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Bank of America downgraded shares of Duke Energy from a “neutral” rating to an “underperform” rating in a research note on Monday, May 13th. Finally, ValuEngine downgraded shares of Duke Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Duke Energy has a consensus rating of “Hold” and a consensus price target of $90.50.
In related news, Director E Marie Mckee sold 1,781 shares of Duke Energy stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $87.37, for a total value of $155,605.97. Following the completion of the transaction, the director now directly owns 1 shares of the company’s stock, valued at $87.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lloyd M. Yates sold 5,117 shares of Duke Energy stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $88.20, for a total value of $451,319.40. The disclosure for this sale can be found here. Insiders sold 8,598 shares of company stock valued at $752,989 over the last ninety days. 0.09% of the stock is currently owned by company insiders.
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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