Duke Energy Corporation (NYSE:DUK) Declares Quarterly Dividend of $1.08

Duke Energy Corporation (NYSE:DUK) announced a quarterly dividend on Tuesday, July 14th. Stockholders of record on Friday, August 14th will be given a dividend of 1.085 per share by the utilities provider on Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 14th. This is a 1.9% increase from Duke Energy’s previous quarterly dividend of $1.06.

Duke Energy has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 20 years. Duke Energy has a payout ratio of 63.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Duke Energy to earn $7.14 per share next year, which means the company should continue to be able to cover its $4.26 annual dividend with an expected future payout ratio of 59.7%.

Duke Energy Stock Performance

Duke Energy stock opened at $126.48 on Wednesday. The business has a 50 day moving average of $124.87 and a 200-day moving average of $125.31. The company has a market capitalization of $98.60 billion, a P/E ratio of 19.37 and a beta of 0.38. Duke Energy has a 1 year low of $113.89 and a 1 year high of $134.49. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44.

Duke Energy (NYSE:DUK) last posted its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 EPS. On average, equities research analysts predict that Duke Energy will post 6.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DUK shares. Truist Financial lowered their price objective on Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Barclays lowered their price target on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. BMO Capital Markets lowered their target price on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. BTIG Research restated a “buy” rating and issued a $139.00 target price on shares of Duke Energy in a report on Tuesday, June 2nd. Finally, Capitol Sec Mgt downgraded Duke Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $138.33.

About Duke Energy

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.