$5.84 Billion in Sales Expected for Duke Energy Corp (NYSE:DUK) This Quarter

Brokerages expect Duke Energy Corp (NYSE:DUK) to report $5.84 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Duke Energy’s earnings. The highest sales estimate is $6.02 billion and the lowest is $5.67 billion. Duke Energy posted sales of $5.87 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.5%. The company is scheduled to announce its next quarterly earnings results on Tuesday, August 4th.

According to Zacks, 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 company will post sales of $26.05 billion, with estimates ranging from $25.04 billion to $26.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Duke Energy.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Tuesday, May 12th. The utilities provider reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.05). The firm had revenue of $5.95 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 earnings per share.

DUK has been the subject of several research analyst reports. Wells Fargo & Co cut their target price on shares of Duke Energy from $108.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group cut their target price on shares of Duke Energy from $113.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Morgan Stanley cut their target price on shares of Duke Energy from $96.00 to $87.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Credit Suisse Group raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $96.00 to $108.00 in a research note on Tuesday, February 18th. Finally, Bank of America reaffirmed a “neutral” rating and set a $83.00 target price (down from $93.00) on shares of Duke Energy in a research note on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. Duke Energy presently has an average rating of “Hold” and an average target price of $93.29.

In related news, SVP Harry K. Sideris sold 1,285 shares of Duke Energy stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $80.42, for a total transaction 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 approximately $433,946.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lynn J. Good sold 16,400 shares of Duke Energy stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $91.86, for a total transaction of $1,506,504.00. Following the transaction, the chief executive officer now directly owns 302,325 shares of the company’s stock, valued at $27,771,574.50. The disclosure for this sale can be found here. Insiders sold a total of 18,213 shares of company stock valued at $1,652,221 over the last three months. Corporate insiders own 0.11% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in Duke Energy during the 1st quarter valued at about $79,000. We Are One Seven LLC lifted its holdings in Duke Energy by 11.7% during the 4th quarter. We Are One Seven LLC now owns 3,893 shares of the utilities provider’s stock valued at $355,000 after buying an additional 407 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Duke Energy by 1.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 37,554 shares of the utilities provider’s stock valued at $3,425,000 after buying an additional 656 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Duke Energy by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 314,254 shares of the utilities provider’s stock valued at $28,663,000 after buying an additional 5,729 shares in the last quarter. Finally, Iowa State Bank lifted its holdings in Duke Energy by 0.5% during the 4th quarter. Iowa State Bank now owns 37,898 shares of the utilities provider’s stock valued at $3,457,000 after buying an additional 172 shares in the last quarter. 64.29% of the stock is owned by hedge funds and other institutional investors.

Shares of DUK stock traded up $0.89 on Monday, hitting $83.23. 2,760,557 shares of the stock traded hands, compared to its average volume of 3,528,815. The firm has a market cap of $60.44 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 3.42 and a beta of 0.33. The firm has a 50 day simple moving average of $84.10 and a two-hundred day simple moving average of $89.38. Duke Energy has a 52 week low of $62.13 and a 52 week high of $103.79. 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be paid a $0.945 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.54%. Duke Energy’s payout ratio is currently 74.70%.

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 and Estimates for Duke Energy (NYSE:DUK)

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