Duke Energy Corporation (NYSE:DUK) Announces Quarterly Dividend of $1.08

Duke Energy Corporation (NYSE:DUK) announced a quarterly dividend on Thursday, October 1st. Investors of record on Friday, November 13th will be paid a dividend of $1.0850 per share by the utilities provider on Wednesday, December 16th. This represents a $4.34 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, November 13th.

Duke Energy has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 20 years. Duke Energy has a payout ratio of 64.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Duke Energy to earn $7.16 per share next year, which means the company should continue to be able to cover its $4.34 annual dividend with an expected future payout ratio of 60.6%.

Duke Energy Stock Up 0.9%

Shares of DUK stock traded up $1.03 during mid-day trading on Friday, reaching $114.77. 278,551 shares of the company’s stock traded hands, compared to its average volume of 3,985,857. The company’s 50-day moving average price is $120.99 and its 200-day moving average price is $124.71. The company has a market cap of $89.49 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.66 and a beta of 0.36. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. Duke Energy has a 12 month low of $112.40 and a 12 month high of $134.49.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period last year, the company posted $1.25 EPS. Duke Energy’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that Duke Energy will post 6.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Duke Energy

A number of hedge funds have recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. raised its position in shares of Duke Energy by 1.2% during the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 6,623 shares of the utilities provider’s stock worth $838,000 after purchasing an additional 80 shares during the period. Sharp Wealth Advisory LLC increased its stake in Duke Energy by 4.5% during the 1st quarter. Sharp Wealth Advisory LLC now owns 1,876 shares of the utilities provider’s stock valued at $246,000 after buying an additional 81 shares during the period. Absher Wealth Management LLC lifted its stake in shares of Duke Energy by 2.3% in the 1st quarter. Absher Wealth Management LLC now owns 3,648 shares of the utilities provider’s stock worth $478,000 after acquiring an additional 81 shares during the period. Sovereign Financial Group Inc. increased its position in shares of Duke Energy by 2.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,052 shares of the utilities provider’s stock valued at $400,000 after purchasing an additional 84 shares during the period. Finally, Walker Asset Management LLC lifted its holdings in shares of Duke Energy by 1.7% in the first quarter. Walker Asset Management LLC now owns 4,973 shares of the utilities provider’s stock valued at $651,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Company Profile

Duke Energy Corporation (NYSE: DUK) is an energy holding company that operates regulated electric and natural gas utilities in the United States. Its electric utilities generate, transmit, distribute and sell electricity to residential, commercial, industrial and other customers.

The company serves customers across the Carolinas, Florida, Indiana, Ohio and Kentucky. Duke Energy also operates natural gas utilities and related infrastructure in several states, including North Carolina, South Carolina, Ohio, Kentucky and Tennessee.