Duke Energy Co. (NYSE:DUK) Expected to Post Quarterly Sales of $6.04 Billion

Analysts predict that Duke Energy Co. (NYSE:DUK – Get Rating) will post sales of $6.04 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Duke Energy’s earnings. The highest sales estimate is $6.13 billion and the lowest is $5.90 billion. Duke Energy reported sales of $5.76 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Duke Energy will report full-year sales of $26.28 billion for the current financial year, with estimates ranging from $25.85 billion to $26.62 billion. For the next year, analysts expect that the firm will report sales of $27.07 billion, with estimates ranging from $26.79 billion to $27.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Duke Energy.

Duke Energy (NYSE:DUK – Get Rating) last announced its earnings results on Monday, May 9th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The business had revenue of $7.13 billion for the quarter, compared to analysts’ expectations of $6.32 billion. Duke Energy had a return on equity of 8.52% and a net margin of 15.57%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $1.26 earnings per share.

Several analysts have recently weighed in on DUK shares. StockNews.com began coverage on Duke Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. KeyCorp boosted their price target on Duke Energy from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Bank of America upgraded Duke Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $108.00 to $110.00 in a research note on Monday, February 14th. Citigroup began coverage on Duke Energy in a research report on Tuesday, March 22nd. They issued a “buy” rating and a $120.00 target price for the company. Finally, Credit Suisse Group dropped their price objective on Duke Energy from $125.00 to $117.00 in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Duke Energy currently has a consensus rating of “Hold” and a consensus target price of $112.67.

In other Duke Energy news, CEO Lynn J. Good sold 20,000 shares of the stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $98.57, for a total value of $1,971,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julia S. Janson sold 3,876 shares of the stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $107.19, for a total value of $415,468.44. The disclosure for this sale can be found here. Insiders sold a total of 34,437 shares of company stock valued at $3,505,795 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Masso Torrence Wealth Management Inc. bought a new stake in Duke Energy during the 4th quarter worth $33,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in Duke Energy during the 1st quarter worth approximately $33,000. Carl Stuart Investment Advisor Inc. acquired a new position in Duke Energy during the 1st quarter worth approximately $33,000. Quent Capital LLC purchased a new stake in shares of Duke Energy in the fourth quarter worth approximately $35,000. Finally, San Luis Wealth Advisors LLC bought a new position in shares of Duke Energy in the first quarter valued at approximately $35,000. 62.35% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:DUK traded down $0.07 during trading on Friday, reaching $108.85. 3,422,725 shares of the stock were exchanged, compared to its average volume of 2,977,102. The firm’s 50-day moving average price is $110.55 and its 200 day moving average price is $104.89. The firm has a market cap of $83.80 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 3.29 and a beta of 0.34. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.42 and a current ratio of 0.62. Duke Energy has a 12-month low of $95.48 and a 12-month high of $116.33.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Friday, May 13th will be given a $0.985 dividend. This represents a $3.94 annualized dividend and a yield of 3.62%. The ex-dividend date is Thursday, May 12th. Duke Energy’s dividend payout ratio is presently 79.92%.

About Duke Energy (Get Rating)

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.

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