Duke Energy Corp (DUK) Plans Quarterly Dividend of $0.89
Duke Energy Corp (NYSE:DUK) declared a quarterly dividend on Friday, January 5th, RTT News reports. Stockholders of record on Friday, February 16th will be paid a dividend of 0.89 per share by the utilities provider on Friday, March 16th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.32%.
Duke Energy has raised its dividend by an average of 2.8% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Duke Energy has a payout ratio of 78.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Duke Energy to earn $4.82 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 73.9%.
Shares of Duke Energy (NYSE:DUK) traded down $0.65 on Friday, hitting $82.32. 2,475,700 shares of the stock were exchanged, compared to its average volume of 2,777,933. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.71 and a quick ratio of 0.41. The stock has a market cap of $57,040.00, a P/E ratio of 21.61, a PEG ratio of 4.29 and a beta of 0.26. Duke Energy has a 1-year low of $76.14 and a 1-year high of $91.80.
A number of brokerages have recently issued reports on DUK. Citigroup increased their price target on shares of Duke Energy from $74.00 to $77.00 and gave the company a “sell” rating in a report on Tuesday, October 17th. Bank of America reiterated a “neutral” rating and issued a $92.00 price target on shares of Duke Energy in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. SunTrust Banks set a $82.00 price target on shares of Duke Energy and gave the company a “hold” rating in a report on Wednesday. Finally, ValuEngine upgraded shares of Duke Energy from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. Duke Energy currently has a consensus rating of “Hold” and an average price target of $87.26.
In other Duke Energy news, EVP Lloyd M. Yates sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $89.95, for a total transaction of $449,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.
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About Duke Energy
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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