Duke Energy Corporation (DUK) Expected to Announce Earnings of $1.62 Per Share
Equities research analysts expect that Duke Energy Corporation (NYSE:DUK) will report earnings per share of $1.62 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Duke Energy Corporation’s earnings, with the lowest EPS estimate coming in at $1.50 and the highest estimate coming in at $1.73. Duke Energy Corporation reported earnings of $1.68 per share in the same quarter last year, which suggests a negative year over year growth rate of 3.6%. The business is scheduled to announce its next quarterly earnings report on Friday, November 3rd.
According to Zacks, analysts expect that Duke Energy Corporation will report full year earnings of $4.59 per share for the current financial year, with EPS estimates ranging from $4.54 to $4.65. For the next financial year, analysts expect that the company will post earnings of $4.83 per share, with EPS estimates ranging from $4.80 to $4.86. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Duke Energy Corporation.
Duke Energy Corporation (NYSE:DUK) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.01. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year.
A number of brokerages have recently weighed in on DUK. BMO Capital Markets restated a “hold” rating and issued a $87.00 price target (up previously from $85.00) on shares of Duke Energy Corporation in a research report on Friday. BidaskClub upgraded Duke Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Tuesday, July 11th. Morgan Stanley restated an “equal weight” rating and issued a $87.00 price target (down previously from $91.00) on shares of Duke Energy Corporation in a research report on Monday, July 10th. Finally, Deutsche Bank AG raised their price target on Duke Energy Corporation from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Tuesday, April 11th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $82.51.
In other Duke Energy Corporation news, Director E Marie Mckee sold 1,937 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total value of $165,206.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodore F. Craver, Jr. purchased 3,500 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $83.73 per share, for a total transaction of $293,055.00. Following the completion of the purchase, the director now owns 5,706 shares in the company, valued at approximately $477,763.38. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Hennessy Advisors Inc. raised its stake in shares of Duke Energy Corporation by 1.5% in the first quarter. Hennessy Advisors Inc. now owns 379,737 shares of the utilities provider’s stock worth $31,142,000 after buying an additional 5,500 shares during the last quarter. Hexavest Inc. raised its stake in shares of Duke Energy Corporation by 4.4% in the first quarter. Hexavest Inc. now owns 780,241 shares of the utilities provider’s stock worth $63,988,000 after buying an additional 32,947 shares during the last quarter. Pegasus Partners Ltd. raised its stake in shares of Duke Energy Corporation by 0.5% in the first quarter. Pegasus Partners Ltd. now owns 23,034 shares of the utilities provider’s stock worth $1,889,000 after buying an additional 110 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Duke Energy Corporation by 7.9% in the first quarter. Brookstone Capital Management now owns 78,707 shares of the utilities provider’s stock worth $6,455,000 after buying an additional 5,795 shares during the last quarter. Finally, Rothschild Investment Corp IL raised its stake in shares of Duke Energy Corporation by 0.3% in the first quarter. Rothschild Investment Corp IL now owns 48,836 shares of the utilities provider’s stock worth $4,005,000 after buying an additional 152 shares during the last quarter. 55.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Duke Energy Corporation (DUK) opened at 86.48 on Monday. The stock’s 50 day moving average is $84.87 and its 200-day moving average is $82.44. The stock has a market cap of $60.53 billion, a price-to-earnings ratio of 27.58 and a beta of 0.24. Duke Energy Corporation has a 12-month low of $72.34 and a 12-month high of $87.75.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, August 18th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. Duke Energy Corporation’s dividend payout ratio (DPR) is currently 101.48%.
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About Duke Energy Corporation
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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