Brokerages predict that Duke Energy Corp (NYSE:DUK) will announce sales of $5.84 billion for the current quarter, Zacks reports. Two analysts have issued estimates for Duke Energy’s earnings, with the highest sales estimate coming in at $6.02 billion and the lowest estimate coming in at $5.67 billion. Duke Energy posted sales of $5.87 billion in the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The business is expected to report its next quarterly earnings results on Tuesday, August 4th.
On average, analysts expect that Duke Energy will report full year sales of $25.23 billion for the current fiscal year, with estimates ranging from $24.66 billion to $25.78 billion. For the next fiscal year, analysts forecast that the firm will report sales of $26.05 billion, with estimates ranging from $25.04 billion to $26.62 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Duke Energy.
Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, May 12th. The utilities provider reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.05). The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6.24 billion. Duke Energy had a net margin of 15.17% and a return on equity of 8.13%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share.
In other Duke Energy news, CEO Lynn J. Good sold 16,400 shares of Duke Energy stock in a transaction on Friday, February 28th. The stock was sold at an average price of $91.86, for a total value of $1,506,504.00. Following the completion of the transaction, the chief executive officer now directly owns 302,325 shares of the company’s stock, valued at approximately $27,771,574.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Harry K. Sideris sold 1,285 shares of Duke Energy stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $80.42, for a total value of $103,339.70. Following the completion of the transaction, the senior vice president now directly owns 5,396 shares of the company’s stock, valued at $433,946.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,213 shares of company stock valued at $1,652,221. 0.11% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in shares of Duke Energy by 7.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,394,071 shares of the utilities provider’s stock valued at $112,752,000 after purchasing an additional 93,042 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Duke Energy by 8.3% in the 1st quarter. HighTower Advisors LLC now owns 343,466 shares of the utilities provider’s stock valued at $27,776,000 after purchasing an additional 26,312 shares during the last quarter. Signet Financial Management LLC increased its stake in shares of Duke Energy by 3.1% in the 1st quarter. Signet Financial Management LLC now owns 10,469 shares of the utilities provider’s stock valued at $857,000 after purchasing an additional 318 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Duke Energy by 0.7% in the 1st quarter. Johnson Investment Counsel Inc. now owns 46,177 shares of the utilities provider’s stock valued at $3,735,000 after purchasing an additional 310 shares during the last quarter. Finally, tru Independence LLC increased its stake in shares of Duke Energy by 5,021.2% in the 1st quarter. tru Independence LLC now owns 3,380 shares of the utilities provider’s stock valued at $274,000 after purchasing an additional 3,314 shares during the last quarter. 64.19% of the stock is owned by hedge funds and other institutional investors.
DUK stock traded up $0.89 during mid-day trading on Monday, reaching $83.23. The company had a trading volume of 2,760,557 shares, compared to its average volume of 4,141,414. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.67 and a quick ratio of 0.45. The stock has a 50 day simple moving average of $84.43 and a two-hundred day simple moving average of $89.21. The company has a market capitalization of $61.09 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 3.46 and a beta of 0.33. Duke Energy has a 52 week low of $62.13 and a 52 week high of $103.79.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be issued a dividend of $0.945 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $3.78 annualized dividend and a yield of 4.54%. Duke Energy’s payout ratio is currently 74.70%.
Duke Energy Company Profile
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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