Duke Energy Corporation (NYSE:DUK) Raises Dividend to $1.07 Per Share

Duke Energy Corporation (NYSE:DUK - Get Free Report) declared a quarterly dividend on Tuesday, July 15th, RTT News reports. Investors of record on Friday, August 15th will be given a dividend of 1.065 per share by the utilities provider on Tuesday, September 16th. This represents a $4.26 dividend on an annualized basis and a yield of 3.62%. This is a 1.9% increase from Duke Energy's previous quarterly dividend of $1.05.

Duke Energy has a dividend payout ratio of 62.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Duke Energy to earn $6.73 per share next year, which means the company should continue to be able to cover its $4.18 annual dividend with an expected future payout ratio of 62.1%.

Duke Energy Stock Performance

NYSE:DUK traded up $0.51 during midday trading on Wednesday, reaching $117.61. 256,131 shares of the company traded hands, compared to its average volume of 3,631,951. Duke Energy has a twelve month low of $105.20 and a twelve month high of $125.27. The firm has a market capitalization of $91.41 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 2.95 and a beta of 0.37. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.50. The company has a fifty day moving average price of $116.62 and a 200 day moving average price of $115.87.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The business had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts expect that Duke Energy will post 6.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Duke Energy stock. Brighton Jones LLC grew its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,754 shares of the utilities provider's stock after purchasing an additional 700 shares during the quarter. Brighton Jones LLC's holdings in Duke Energy were worth $728,000 at the end of the most recent reporting period. 65.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on DUK. Wells Fargo & Company lifted their target price on Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a research note on Tuesday, July 1st. Citigroup lifted their target price on Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Raymond James Financial initiated coverage on Duke Energy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $127.25.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.