Duke Energy Corp (NYSE:DUK) Increases Dividend to $0.97 Per Share

Duke Energy Corp (NYSE:DUK) declared a quarterly dividend on Monday, July 6th, RTT News reports. Shareholders of record on Friday, August 14th will be given a dividend of 0.965 per share by the utilities provider on Wednesday, September 16th. This represents a $3.86 annualized dividend and a dividend yield of 4.84%. This is an increase from Duke Energy’s previous quarterly dividend of $0.95.

Duke Energy has decreased its dividend by an average of 43.3% per year over the last three years and has increased its dividend every year for the last 13 years. Duke Energy has a dividend payout ratio of 73.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Duke Energy to earn $5.43 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 69.6%.

DUK stock opened at $79.81 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.45 and a current ratio of 0.67. The company’s 50-day simple moving average is $84.43 and its 200 day simple moving average is $88.29. Duke Energy has a 52 week low of $62.13 and a 52 week high of $103.79. The company has a market capitalization of $60.14 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.44 and a beta of 0.31.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, May 12th. The utilities provider reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.05). Duke Energy had a return on equity of 8.13% and a net margin of 15.17%. The firm had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $6.24 billion. During the same period in the prior year, the company earned $1.24 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts forecast that Duke Energy will post 5.13 EPS for the current year.

In other Duke Energy news, SVP Harry K. Sideris sold 1,285 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $80.42, for a total transaction of $103,339.70. Following the completion of the sale, the senior vice president now owns 5,396 shares of the company’s stock, valued at approximately $433,946.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dwight L. Jacobs sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $84.11, for a total transaction of $126,165.00. Following the sale, the senior vice president now directly owns 5,191 shares of the company’s stock, valued at approximately $436,615.01. The disclosure for this sale can be found here. Insiders have sold a total of 3,549 shares of company stock valued at $293,126 in the last three months. Insiders own 0.11% of the company’s stock.

Several equities research analysts recently weighed in on DUK shares. UBS Group cut their price objective on shares of Duke Energy from $113.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Seaport Global Securities started coverage on shares of Duke Energy in a research report on Tuesday, June 9th. They set a “neutral” rating for the company. Morgan Stanley upped their price objective on shares of Duke Energy from $87.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 17th. Wells Fargo & Co cut their price objective on shares of Duke Energy from $108.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Duke Energy from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $93.43.

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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Dividend History for Duke Energy (NYSE:DUK)

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