Duke Energy Corporation (NYSE:DUK) Updates FY17 Earnings Guidance
Duke Energy Corporation (NYSE:DUK) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $4.50-4.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.61.
DUK has been the topic of a number of recent analyst reports. BMO Capital Markets reissued a hold rating and set a $87.00 price target (up from $85.00) on shares of Duke Energy Corporation in a report on Friday. BidaskClub raised Duke Energy Corporation from a sell rating to a hold rating in a report on Monday, July 24th. Morgan Stanley reissued an equal weight rating and set a $87.00 price target (down from $91.00) on shares of Duke Energy Corporation in a report on Monday, July 10th. Zacks Investment Research raised Duke Energy Corporation from a hold rating to a buy rating and set a $93.00 price target on the stock in a report on Tuesday, July 11th. Finally, Deutsche Bank AG raised their price target on Duke Energy Corporation from $81.00 to $83.00 and gave the company a hold rating in a report on Tuesday, April 11th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $82.36.
Shares of Duke Energy Corporation (DUK) traded down 0.03% during midday trading on Friday, hitting $86.48. The stock had a trading volume of 2,599,641 shares. Duke Energy Corporation has a 52-week low of $72.34 and a 52-week high of $87.75. The stock has a market cap of $60.53 billion, a PE ratio of 27.58 and a beta of 0.24. The firm has a 50 day moving average price of $84.87 and a 200-day moving average price of $82.44.
Duke Energy Corporation (NYSE:DUK) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Duke Energy Corporation had a net margin of 9.17% and a return on equity of 7.87%. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts predict that Duke Energy Corporation will post $4.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, August 18th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from Duke Energy Corporation’s previous quarterly dividend of $0.86. Duke Energy Corporation’s dividend payout ratio is 109.27%.
In related news, Director John H. Forsgren sold 2,190 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $82.86, for a total transaction of $181,463.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Marie Mckee sold 1,937 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total transaction of $165,206.73. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.
Duke Energy Corporation Company Profile
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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