NYSE:DUC

Stock Analysis Report

Duff & Phelps Utility Bond Trust

Executive Summary

Duff & Phelps Utility and Corporate Bond Trust, Inc.

Rewards


Snowflake Analysis

Share Price & News

How has Duff & Phelps Utility Bond Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DUC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.5%

DUC

-8.6%

US Capital Markets

-10.6%

US Market


1 Year Return

10.3%

DUC

4.9%

US Capital Markets

5.2%

US Market

Return vs Industry: DUC exceeded the US Capital Markets industry which returned 8.9% over the past year.

Return vs Market: DUC matched the US Market which returned 10.2% over the past year.


Shareholder returns

DUCIndustryMarket
7 Day-0.5%-8.6%-10.6%
30 Day-0.1%-7.9%-8.5%
90 Day2.3%-4.4%-4.6%
1 Year16.0%10.3%7.1%4.9%7.4%5.2%
3 Year17.5%-0.2%25.5%18.4%31.7%23.2%
5 Year28.9%-3.5%65.9%50.7%56.4%39.3%

Price Volatility Vs. Market

How volatile is Duff & Phelps Utility Bond Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Duff & Phelps Utility Bond Trust undervalued compared to its fair value and its price relative to the market?

10.04x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: DUC ($9.27) is trading above our estimate of fair value ($0.43)

Significantly Below Fair Value: DUC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DUC is good value based on its PE Ratio (10x) compared to the Capital Markets industry average (31.8x).

PE vs Market: DUC is good value based on its PE Ratio (10x) compared to the US market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate DUC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: DUC is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (6.6x).

Future Growth

How is Duff & Phelps Utility Bond Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

7.9%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Duff & Phelps Utility Bond Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Duff & Phelps Utility Bond Trust performed over the past 5 years?

2.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DUC has a large one-off gain of $18.4M impacting its October 31 2019 financial results.

Growing Profit Margin: DUC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: DUC's earnings have grown by 2.1% per year over the past 5 years.

Accelerating Growth: DUC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: DUC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (8.4%).


Return on Equity

High ROE: DUC's Return on Equity (9.7%) is considered low.


Return on Assets


Return on Capital Employed

Financial Health

How is Duff & Phelps Utility Bond Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: DUC has a low level of unsold assets or inventory.

Debt Coverage by Assets: DUC's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: DUC's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if DUC has a sufficient allowance for bad loans.

Low Risk Liabilities: DUC reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if DUC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: DUC has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if DUC has an appropriate level of bad loans.

Dividend

What is Duff & Phelps Utility Bond Trust's current dividend yield, its reliability and sustainability?

6.46%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Duff & Phelps Utility Bond Trust before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company6.5%marketbottom25%1.6%markettop25%4.1%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: DUC's dividend (6.47%) is higher than the bottom 25% of dividend payers in the US market (1.53%).

High Dividend: DUC's dividend (6.47%) is in the top 25% of dividend payers in the US market (3.96%)


Stability and Growth of Payments

Stable Dividend: DUC's dividend payments have been volatile in the past 10 years.

Growing Dividend: DUC's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (45.4%), DUC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

12.8yrs

Average board tenure


CEO

Nathan Partain (62yo)

16yrs

Tenure

0

Mr. Nathan Ivey Partain, CFA is the President at Duff & Phelps Investment Management Co. since April 2005 and serves as Director since May 2007 and serves as Co-Chief Investment Officer since February 1, 2 ...


Board Members

NamePositionTenureCompensationOwnership
Nathan Partain
Chief Executive Officer16yrsno data0.023% $57.6k
David Vitale
Chairman11.1yrsUS$21.35kno data
Christian Poindexter
Director11.8yrsUS$13.96kno data
Philip McLoughlin
Independent Director23.6yrsUS$12.92k0.0018% $4.5k
Carl Pollard
Independent Director13.8yrsUS$14.38kno data
Robert Genetski
Independent Director10.8yrsUS$12.92k0.0036% $9.3k
Eileen Moran
Independent Director23.5yrsUS$14.34k0.039% $100.5k
Stewart Conner
Independent Director10.8yrsUS$12.87kno data
Geraldine McNamara
Independent Director16.8yrsUS$12.92k0.014% $35.2k

12.8yrs

Average Tenure

73yo

Average Age

Experienced Board: DUC's board of directors are seasoned and experienced ( 12.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Duff & Phelps Utility and Corporate Bond Trust Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Duff & Phelps Utility and Corporate Bond Trust Inc.
  • Ticker: DUC
  • Exchange: NYSE
  • Founded: 1993
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$254.876m
  • Shares outstanding: 27.49m
  • Website: https://www.ducfund.com

Location

  • Duff & Phelps Utility and Corporate Bond Trust Inc.
  • 200 South Wacker Drive
  • Suite 500
  • Chicago
  • Illinois
  • 60606
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DUCNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1993

Biography

Duff & Phelps Utility and Corporate Bond Trust, Inc. is a close ended fixed income mutual fund launched by Virtus Investment Partners, Inc. The fund is managed by Duff and Phelps Investment Management Co. It invests in the fixed income markets. The fund invests primarily in a utility income securities, corporate income securities, mortgage-backed securities, and asset-backed securities. Its investment portfolio includes investments in auto and truck, broadcasting and publishing, telephone, industrial, financial, and utilities sectors. Duff & Phelps Utility and Corporate Bond Trust, Inc. was formed in January, 1993 and is based in Chicago, Illinois. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 01:01
End of Day Share Price2020/02/27 00:00
Earnings2019/10/31
Annual Earnings2019/10/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.