Duke Energy (NYSE:DUK) Issues Earnings Results, Beats Expectations By $0.10 EPS

Duke Energy (NYSE:DUK) issued its quarterly earnings results on Friday. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.10, RTT News reports. The business had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $7.24 billion. Duke Energy had a return on equity of 8.02% and a net margin of 13.23%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. Duke Energy updated its FY19 guidance to $4.95-5.15 EPS.

NYSE DUK traded down $2.63 on Friday, hitting $89.95. 6,146,212 shares of the company’s stock were exchanged, compared to its average volume of 3,026,935. The stock has a 50-day moving average of $95.22 and a 200-day moving average of $90.74. The company has a current ratio of 0.71, a quick ratio of 0.47 and a debt-to-equity ratio of 1.26. Duke Energy has a 52 week low of $82.46 and a 52 week high of $97.37. The stock has a market cap of $67.87 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 3.84 and a beta of 0.07.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 4.20%. The ex-dividend date is Thursday, November 14th. Duke Energy’s payout ratio is presently 80.08%.

In other Duke Energy news, EVP Douglas F. Esamann sold 4,430 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $92.44, for a total transaction of $409,509.20. Following the completion of the sale, the executive vice president now directly owns 64,722 shares in the company, valued at $5,982,901.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lloyd M. Yates sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $90.81, for a total value of $1,816,200.00. Following the sale, the executive vice president now owns 41,154 shares of the company’s stock, valued at $3,737,194.74. The disclosure for this sale can be found here. Insiders have sold 26,802 shares of company stock valued at $2,443,654 over the last 90 days. Corporate insiders own 0.09% of the company’s stock.

DUK has been the topic of a number of analyst reports. Credit Suisse Group increased their price target on Duke Energy from $95.00 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Morgan Stanley increased their price target on Duke Energy from $95.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Citigroup reduced their price target 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. SunTrust Banks set a $96.00 price target on Duke Energy and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their target price on Duke Energy from $91.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Duke Energy presently has an average rating of “Hold” and a consensus price target of $95.00.

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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