Duke Energy (NYSE:DUK) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Duke Energy (NYSE:DUK) posted its quarterly earnings results on Tuesday. The utilities provider reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.14, Briefing.com reports. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.76 billion. Duke Energy had a net margin of 12.00% and a return on equity of 7.70%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. Duke Energy updated its FY 2019 guidance to $4.80-5.20 EPS and its FY19 guidance to $4.80-5.20 EPS.

NYSE DUK opened at $86.96 on Tuesday. The stock has a market capitalization of $64.16 billion, a P/E ratio of 18.42, a PEG ratio of 3.68 and a beta of 0.12. Duke Energy has a 52 week low of $78.00 and a 52 week high of $91.67. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.49 and a current ratio of 0.75. The firm’s 50-day simple moving average is $88.46.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.945 per share. The ex-dividend date is Thursday, August 15th. This is an increase from Duke Energy’s previous quarterly dividend of $0.93. This represents a $3.78 annualized dividend and a yield of 4.35%. Duke Energy’s dividend payout ratio is 78.60%.

Several research firms recently weighed in on DUK. Morgan Stanley increased their price target on shares of Duke Energy from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday, June 14th. Citigroup reduced their price target on shares of Duke Energy from $91.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Bank of America lowered shares of Duke Energy from a “neutral” rating to an “underperform” rating in a research report on Monday, May 13th. Zacks Investment Research lowered shares of Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 price target for the company. in a research report on Wednesday, June 26th. Finally, ValuEngine downgraded shares of Duke Energy from a “buy” rating to a “hold” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Duke Energy currently has an average rating of “Hold” and a consensus target price of $91.50.

In other Duke Energy news, EVP Lloyd M. Yates sold 5,117 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $88.20, for a total transaction of $451,319.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Dwight L. Jacobs sold 1,700 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $85.92, for a total transaction of $146,064.00. Following the sale, the senior vice president now directly owns 6,091 shares in the company, valued at $523,338.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,598 shares of company stock worth $752,989. Insiders own 0.09% of the company’s stock.

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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Earnings History for Duke Energy (NYSE:DUK)

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