NEW YORK (TheStreet) -- Shares of Duke Energy Corp. (DUK) are down -0.75% to $73.63 after the company today declared a quarterly cash dividend on its common stock of 79.5 cents per share, an increase of 1.5 cents per share or about 2%.
This increase is the same as in 2013, the first full year of Duke Energy's merger with Progress Energy.
The dividend is payable on Sept. 16 to shareholders of record at the close of business Aug. 15.
The company expects to achieve its targeted dividend payout ratio of between 65% and 70% of its adjusted diluted earnings per share in 2014.
TheStreet Ratings team rates DUKE ENERGY CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate DUKE ENERGY CORP (DUK) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: