Duke Energy (NYSE:DUK – Get Rating) issued its earnings results on Thursday. The utilities provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.04), Briefing.com reports. Duke Energy had a return on equity of 8.52% and a net margin of 14.47%. The business had revenue of $6.69 billion for the quarter, compared to analyst estimates of $5.79 billion. During the same period last year, the business posted $1.15 EPS. Duke Energy’s revenue was up 16.1% on a year-over-year basis. Duke Energy updated its FY22 guidance to $5.30-5.60 EPS and its FY 2022 guidance to $5.30-$5.60 EPS.
Duke Energy Price Performance
Shares of Duke Energy stock traded down $1.09 on Thursday, hitting $109.73. The company’s stock had a trading volume of 2,953,908 shares, compared to its average volume of 2,875,842. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 1.26. The firm has a fifty day moving average price of $106.88 and a 200-day moving average price of $107.15. Duke Energy has a 52-week low of $95.48 and a 52-week high of $116.33. The company has a market capitalization of $84.48 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 3.35 and a beta of 0.34.
Duke Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 12th will be issued a $1.005 dividend. This is a positive change from Duke Energy’s previous quarterly dividend of $0.99. The ex-dividend date is Thursday, August 11th. This represents a $4.02 annualized dividend and a yield of 3.66%. Duke Energy’s dividend payout ratio is 82.77%.
Analyst Ratings Changes
Insiders Place Their Bets
In other news, CFO Steven K. Young sold 415 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $44,716.25. Following the completion of the transaction, the chief financial officer now directly owns 114,072 shares of the company’s stock, valued at approximately $12,291,258. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 1,245 shares of company stock worth $137,021. Insiders own 0.10% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DUK. Eaton Vance Management raised its position in shares of Duke Energy by 127.8% in the first quarter. Eaton Vance Management now owns 1,151,162 shares of the utilities provider’s stock valued at $128,538,000 after buying an additional 645,882 shares during the last quarter. Royal Bank of Canada raised its holdings in Duke Energy by 4.3% in the 1st quarter. Royal Bank of Canada now owns 7,647,858 shares of the utilities provider’s stock valued at $853,961,000 after acquiring an additional 318,102 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Duke Energy by 7.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,826,454 shares of the utilities provider’s stock worth $315,602,000 after purchasing an additional 184,819 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Duke Energy by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,330,211 shares of the utilities provider’s stock worth $818,493,000 after purchasing an additional 180,823 shares during the last quarter. Finally, Bridgewater Associates LP grew its position in shares of Duke Energy by 1,250.5% in the first quarter. Bridgewater Associates LP now owns 183,575 shares of the utilities provider’s stock valued at $20,498,000 after purchasing an additional 169,982 shares during the period. 62.35% of the stock is currently owned by hedge funds and other institutional investors.
About Duke Energy
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.
- Get a free copy of the StockNews.com research report on Duke Energy (DUK)
- Chipotle Mexican Grill Or Shake Shak? Which Is The Tastier Play
- Activision Blizzard Banks On A Flurry Of New Content
- Energy Transfer Is A Value Among High-Yield Energy Infrastructure
- 3 Low Priced Stocks With Good Growth Prospects
- Warner Brothers Discovery is a Powerhouse Entertainment Play
Receive News & Ratings for Duke Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Energy and related companies with MarketBeat.com's FREE daily email newsletter.