Brokerages expect that Duke Energy Corp (NYSE:DUK) will report $6.82 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Duke Energy’s earnings. The lowest sales estimate is $6.77 billion and the highest is $6.86 billion. Duke Energy reported sales of $6.63 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The firm is expected to announce its next quarterly earnings report before the market opens on Friday, November 8th.
On average, analysts expect that Duke Energy will report full year sales of $25.01 billion for the current year, with estimates ranging from $24.83 billion to $25.20 billion. For the next fiscal year, analysts expect that the firm will post sales of $25.69 billion, with estimates ranging from $25.49 billion to $25.85 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Duke Energy.
Duke Energy (NYSE:DUK) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.14. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis.
A number of equities research analysts recently commented on the company. Morgan Stanley upped their target price on Duke Energy from $95.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on Duke Energy from $91.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Credit Suisse Group upped their target price on Duke Energy from $95.00 to $98.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. SunTrust Banks set a $96.00 target price on Duke Energy and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Finally, Citigroup dropped their target price on Duke Energy from $91.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $94.22.
In other Duke Energy news, SVP Dwight L. Jacobs sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $91.05, for a total value of $154,785.00. Following the completion of the transaction, the senior vice president now directly owns 4,891 shares of the company’s stock, valued at $445,325.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas F. Esamann sold 4,430 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $92.44, for a total value of $409,509.20. Following the completion of the transaction, the executive vice president now directly owns 64,722 shares of the company’s stock, valued at $5,982,901.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,581 shares of company stock worth $2,422,653. 0.09% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. Walter & Keenan Financial Consulting Co. MI ADV lifted its holdings in Duke Energy by 32.7% in the third quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 4,058 shares of the utilities provider’s stock valued at $389,000 after acquiring an additional 1,000 shares during the period. Bank of The West lifted its holdings in Duke Energy by 4.6% in the third quarter. Bank of The West now owns 8,739 shares of the utilities provider’s stock valued at $838,000 after acquiring an additional 386 shares during the period. Wolff Financial Management LLC acquired a new position in Duke Energy in the third quarter valued at approximately $275,000. Sheaff Brock Investment Advisors LLC lifted its holdings in Duke Energy by 0.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 15,153 shares of the utilities provider’s stock valued at $1,453,000 after acquiring an additional 133 shares during the period. Finally, Naples Global Advisors LLC lifted its holdings in Duke Energy by 4.6% in the third quarter. Naples Global Advisors LLC now owns 11,521 shares of the utilities provider’s stock valued at $1,104,000 after acquiring an additional 510 shares during the period. 60.32% of the stock is owned by institutional investors.
Shares of DUK stock traded down $1.33 during trading hours on Friday, reaching $94.10. 2,147,984 shares of the company’s stock were exchanged, compared to its average volume of 3,024,264. Duke Energy has a 1 year low of $80.89 and a 1 year high of $97.37. The stock has a market cap of $70.00 billion, a PE ratio of 19.94, a PEG ratio of 3.96 and a beta of 0.09. The company has a current ratio of 0.71, a quick ratio of 0.47 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $95.34 and its two-hundred day moving average price is $90.55.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 4.02%. Duke Energy’s dividend payout ratio is currently 80.08%.
About Duke Energy
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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