Duke Energy Corp Plans Quarterly Dividend of $0.93 (DUK)

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 given 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 4.26%. The ex-dividend date of this dividend is Thursday, May 16th.

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 every year for the last 12 years. Duke Energy has a 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 decline. Analysts expect Duke Energy to earn $5.21 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 71.2%.

NYSE DUK opened at $87.01 on Wednesday. The stock has a market cap of $64.10 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 3.62 and a beta of 0.06. The company has a current ratio of 0.75, a quick ratio of 0.49 and a debt-to-equity ratio of 1.25. Duke Energy has a one year low of $71.96 and a one year high of $91.67.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Thursday, May 9th. The utilities provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.39 billion. Duke Energy had a return on equity of 7.70% and a net margin of 12.00%. Duke Energy’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 earnings per share. Research analysts anticipate that Duke Energy will post 4.94 earnings per share for the current fiscal year.

In related news, EVP Lloyd M. Yates sold 3,500 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $88.51, for a total transaction of $309,785.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melissa H. Anderson sold 2,000 shares of the 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 transaction, the executive vice president now owns 18,198 shares of the company’s stock, valued at $1,592,143.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,250 shares of company stock valued at $1,900,878. 0.09% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on the company. Bank of America lowered Duke Energy from a “neutral” rating to an “underperform” rating in a research report on Monday. ValuEngine lowered Duke Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Credit Suisse Group lowered Duke Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Finally, Morgan Stanley raised their price target on Duke Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $86.10.

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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.

Further Reading: Initial Public Offering (IPO)

Dividend History for Duke Energy (NYSE:DUK)

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