Duke Energy said on July 13, 2023 that its board of directors had declared a regular quarterly dividend of $1.02 per share ($4.10 annualized). Previously, the company paid $1.00 per share.
Shares must be purchased before the ex-div date of August 17, 2023 to be eligible for the dividend. Shareholders of record as of August 18, 2023 will receive payment on September 18, 2023.
At the current share price of $93.20/share, the dividend yield of the stock is 4.40%.
Looking back five years and taking a sample each week, the average dividend yield was 4.14%, the lowest 3.45% and the highest 5.89%. The standard deviation of returns is 0.33 (n=235).
The current dividend yield is 0.80 standard deviation above the historical average.
Additionally, the company’s dividend payout ratio is 1.24. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 0.04%, demonstrating that it has increased its dividend over time.
What is fund sentiment?
There are 2,645 funds or institutions reporting positions in Duke Energy. This is a decrease of 27 owner(s) or 1.01% in the last quarter. Average portfolio weight of all funds dedicated to DUK is 0.39%, a decrease of 22.00%. The total number of shares held by institutions has decreased by 1.06% over the past three months to 555,599,000 shares. 
DUK’s put/call ratio is 0.69, indicating a bullish outlook.
Analyst price forecast suggests 14.76% upside
As of July 6, 2023, the one-year average price target for Duke Energy was 106.95. The forecast ranges from a low of 90.90 to a high of $126.00. The average price target represents a 14.76% increase from its last published closing price of 93.20.
Check out our ranking of companies with the biggest upward price target.
The expected annual revenue for Duke Energy is 28,035 million, a decrease of 1.92%. Projected annual non-GAAP EPS is 5.72.
What are the other shareholders doing?
Wellington Management Group Llp holds 24,056,000 shares representing 3.12% ownership of the company. In its previous filing, the company said it held 28,194,000 shares, representing a decrease of 17.20%. The company decreases its DUK portfolio allocation of 21.01% in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 23,847,000 shares representing 3.09% ownership of the company. In its previous filing, the company stated that it holds 23,403,000 shares, representing a raise of 1.86%. The company decreases its DUK portfolio allocation of 11.87% in the last quarter.
Massachusetts Financial Services holds 19,214,000 shares representing 2.49% ownership of the company. In its previous filing, the company stated that it holds 19,356,000 shares, representing a decrease by 0.74%. The company decreases its DUK portfolio allocation of 86.02% in the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares owns 17,967,000 shares representing 2.33% ownership of the company. In its previous filing, the company stated that it holds 17,802,000 shares, representing a raise by 0.92%. The company decreases its DUK portfolio allocation by 12.32% in the last quarter.
Geode Capital Management holds 14,399K shares representing 1.87% ownership of the company. In its previous filing, the company stated that it holds 14,455,000 shares, representing a decrease by 0.39%. The company decreases its DUK portfolio allocation by 13.65% in the last quarter.
General information about Duke Energy
(This description is provided by the company.)
Duke Energy, a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. It employs 30,000 people and has power generation capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its unregulated Duke Energy Renewables unit. Duke Energy is transforming the experience of its customers, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit’s regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the United States, as well as energy storage and microgrid projects. Duke Energy was named to Fortune’s 2020 “World’s Most Admired Companies” list and Forbes’ 2019 “America’s Top Employers” list.
Further reading:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.