Duke Energy (NYSE:DUK) Releases Earnings Results, Beats Expectations By $0.06 EPS

Duke Energy (NYSE:DUK) posted its earnings results on Thursday. The utilities provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06, Briefing.com reports. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.51 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.Duke Energy’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share.

Duke Energy Price Performance

Duke Energy stock traded down $0.36 during midday trading on Friday, reaching $123.64. The company had a trading volume of 5,456,734 shares, compared to its average volume of 3,392,541. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. Duke Energy has a 12-month low of $105.20 and a 12-month high of $130.03. The company has a market capitalization of $96.15 billion, a P/E ratio of 20.10, a P/E/G ratio of 3.05 and a beta of 0.45. The firm’s fifty day simple moving average is $123.97 and its 200-day simple moving average is $120.84.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, November 14th. Duke Energy’s dividend payout ratio is 69.27%.

Insider Activity at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the completion of the transaction, the executive vice president directly owned 46,422 shares of the company’s stock, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the transaction, the senior vice president owned 19,608 shares in the company, valued at $2,438,843.04. The trade was a 9.26% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Duke Energy

Hedge funds have recently modified their holdings of the business. Soroban Capital Partners LP lifted its stake in Duke Energy by 17.5% in the 2nd quarter. Soroban Capital Partners LP now owns 570,458 shares of the utilities provider’s stock worth $67,314,000 after purchasing an additional 84,781 shares in the last quarter. Visionary Wealth Advisors increased its holdings in shares of Duke Energy by 879.4% in the second quarter. Visionary Wealth Advisors now owns 61,849 shares of the utilities provider’s stock valued at $7,298,000 after purchasing an additional 55,534 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Duke Energy by 40.7% in the second quarter. Quantinno Capital Management LP now owns 183,956 shares of the utilities provider’s stock valued at $21,707,000 after purchasing an additional 53,227 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Duke Energy by 4.7% during the second quarter. Canada Pension Plan Investment Board now owns 986,253 shares of the utilities provider’s stock worth $116,378,000 after buying an additional 43,928 shares in the last quarter. Finally, Holocene Advisors LP boosted its stake in Duke Energy by 193.7% during the second quarter. Holocene Advisors LP now owns 64,218 shares of the utilities provider’s stock worth $7,578,000 after buying an additional 42,356 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group upped their price objective on Duke Energy from $131.00 to $137.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Mizuho increased their price target on shares of Duke Energy from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Barclays lifted their price objective on shares of Duke Energy from $131.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Cowen started coverage on shares of Duke Energy in a research note on Wednesday, October 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company upgraded Duke Energy to a “hold” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.00.

About Duke Energy

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.