Duke Energy Corp (NYSE:DUK) announced a quarterly dividend on Friday, October 26th, RTT News reports. Shareholders of record on Friday, November 16th will be paid a dividend of 0.9275 per share by the utilities provider on Monday, December 17th. This represents a $3.71 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Thursday, November 15th.
Duke Energy has increased its dividend payment by an average of 3.5% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Duke Energy has a dividend payout ratio of 78.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Duke Energy to earn $5.01 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 74.1%.
Shares of DUK stock opened at $85.58 on Friday. The company has a market capitalization of $60.38 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 3.56 and a beta of -0.06. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 1.17. Duke Energy has a fifty-two week low of $71.96 and a fifty-two week high of $91.80.
A number of equities research analysts have weighed in on DUK shares. Wells Fargo & Co lowered their target price on Duke Energy from $89.00 to $88.00 and set a “market perform” rating for the company in a report on Monday, November 5th. Howard Weil started coverage on Duke Energy in a report on Tuesday, July 24th. They issued a “sector outperform” rating and a $85.00 target price for the company. Scotiabank started coverage on Duke Energy in a report on Tuesday, July 24th. They issued a “buy” rating and a $85.00 target price for the company. Morgan Stanley lifted their target price on Duke Energy from $79.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Finally, Zacks Investment Research downgraded Duke Energy from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.00.
In other news, COO Dhiaa M. Jamil sold 4,279 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $81.54, for a total transaction of $348,909.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.
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Duke Energy Company Profile
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
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