Duke Energy(DUK)
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Brokers Suggest Investing in Duke Energy (DUK): Read This Before Placing a Bet
ZACKS· 2025-04-04 14:35
Group 1 - Duke Energy has an average brokerage recommendation (ABR) of 1.90, indicating a consensus between Strong Buy and Buy, based on recommendations from 20 brokerage firms, with 11 of those being Strong Buy, representing 55% of all recommendations [2][4] - Despite the positive ABR, reliance solely on this information for investment decisions may not be prudent, as studies indicate limited success of brokerage recommendations in identifying stocks with the best price increase potential [4][9] - Analysts from brokerage firms tend to exhibit a strong positive bias in their ratings due to vested interests, leading to a disproportionate number of favorable ratings compared to negative ones [5][9] Group 2 - The Zacks Rank, a proprietary stock rating tool, categorizes stocks from Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell) and is based on earnings estimate revisions, which have shown a strong correlation with near-term stock price movements [7][10] - The Zacks Rank is distinct from the ABR, as it is a quantitative model that reflects timely earnings estimate revisions, while the ABR may not always be up-to-date [8][11] - For Duke Energy, the Zacks Consensus Estimate for the current year has decreased by 0.1% to $6.32, indicating growing pessimism among analysts regarding the company's earnings prospects, which has resulted in a Zacks Rank 4 (Sell) [12][13]
Duke Energy restores power for 98% of customers from Wednesday's storm; work continues for hard-hit areas in Clark, Floyd counties
Prnewswire· 2025-04-04 14:23
Core Points - Duke Energy has restored power to over 98% of customers affected by recent storm-related outages in Indiana, with remaining outages now concentrated in Clark and Floyd counties [1][2] - The total number of storm-related outages has decreased from nearly 97,000 to approximately 1,000 as of 9 a.m. ET on Friday [2] - The company emphasizes the importance of safely restoring power to all customers, with a focus on essential services first [3][4] Company Overview - Duke Energy is a Fortune 150 company headquartered in Charlotte, N.C., serving 8.4 million customers across multiple states and owning 54,800 megawatts of energy capacity [7] - The company provides about 6,300 megawatts of electric capacity to approximately 910,000 customers in Indiana, making it the largest electric supplier in the state [6] Energy Transition - Duke Energy is undertaking an ambitious energy transition, focusing on customer reliability and value while investing in electric grid upgrades and cleaner energy generation sources, including natural gas, nuclear, renewables, and energy storage [8]
Duke Energy completes more than 96% of power restoration in Ohio and Kentucky within 36 hours; work continues for hard-hit areas in Hamilton and Clermont counties
Prnewswire· 2025-04-04 14:18
Core Insights - Duke Energy has restored power to over 96% of customers affected by recent severe weather, with ongoing efforts to restore power to the remaining customers [1][3] - Storm-related outages have significantly decreased from over 60,000 to approximately 2,400, primarily in eastern Hamilton and Clermont counties [2][9] - The company is prioritizing the repair of large power lines to restore power to the maximum number of customers efficiently [4] Company Overview - Duke Energy is a Fortune 150 company headquartered in Charlotte, N.C., serving 8.4 million customers across multiple states and owning 54,800 megawatts of energy capacity [6] - The company also provides natural gas service to 1.7 million customers in several states [6] Energy Transition - Duke Energy is focused on an ambitious energy transition, investing in electric grid upgrades and cleaner energy generation methods, including natural gas, nuclear, renewables, and energy storage [7]
Duke Energy (DUK) Stock Dips While Market Gains: Key Facts
ZACKS· 2025-04-01 23:05
Company Performance - Duke Energy's stock closed at $121.07, reflecting a -0.74% change from the previous day, underperforming the S&P 500's gain of 0.38% [1] - Over the past month, Duke Energy shares have increased by 2.78%, while the Utilities sector rose by 1.62% and the S&P 500 declined by 5.59% [1] Earnings Projections - Duke Energy is expected to report earnings of $1.60 per share, indicating a year-over-year growth of 11.11%, with projected revenue of $7.98 billion, a 4% increase from the same quarter last year [2] - For the entire fiscal year, earnings are projected at $6.32 per share and revenue at $31.72 billion, representing increases of +7.12% and +4.48% respectively from the prior year [3] Analyst Estimates and Rankings - Recent changes to analyst estimates for Duke Energy suggest a positive outlook, as revisions often reflect short-term business trends [4] - The Zacks Rank system currently rates Duke Energy at 4 (Sell), with a slight decline of 0.07% in the Zacks Consensus EPS estimate over the past month [6] Valuation Metrics - Duke Energy has a Forward P/E ratio of 19.29, which is higher than the industry average of 18.59 [7] - The company has a PEG ratio of 3.05, compared to the industry average PEG ratio of 2.79 [7] Industry Context - The Utility - Electric Power industry ranks in the top 24% of all industries, with a Zacks Industry Rank of 58 [8] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]
Harry Sideris steps into CEO role leading Duke Energy, joins Board of Directors
Prnewswire· 2025-04-01 14:00
Group 1 - Duke Energy announced the appointment of Harry Sideris as CEO, succeeding Lynn Good, who is retiring after over 20 years with the company [1][2] - Sideris, who has been with the company for 29 years, will also oversee an $83 billion five-year capital plan focused on infrastructure investments and energy solutions [2][3] - Ted Craver has been appointed as the chair of Duke Energy's board of directors, effective April 1 [5] Group 2 - Duke Energy serves 8.4 million electric customers and 1.7 million natural gas customers across several states, with a total energy capacity of 54,800 megawatts [6] - The company is undergoing an energy transition, investing in electric grid upgrades and cleaner energy sources, including natural gas, nuclear, renewables, and energy storage [7]
Duke Energy's largest nuclear plant receives approval to extend operations; supports growing energy demand, helps keep customer costs as low as possible
Prnewswire· 2025-03-31 20:30
Core Viewpoint - The U.S. Nuclear Regulatory Commission has renewed Duke Energy's Oconee Nuclear Station operating licenses for an additional 20 years, allowing it to operate through 2053 and 2054, which supports the company's strategy for cleaner energy while maintaining reliability and affordability for customers as electricity demand grows [1][2][6] Group 1: License Renewal and Impact - Oconee Nuclear Station is the first of Duke Energy's nuclear facilities to achieve an 80-year operational license extension, with plans for similar renewals for other plants, including Robinson Nuclear Plant [2][10] - The renewal is crucial for South Carolina's energy generation to keep pace with economic growth, as emphasized by state officials [2][6] - Nuclear energy has provided over 50% of electricity to Duke Energy's Carolinas customers in 2024, highlighting its importance in the energy mix [4][8] Group 2: Operational Enhancements - Duke Energy has invested significantly in maintenance and upgrades at Oconee, including replacing reactor vessel heads, steam generators, and other critical equipment to ensure safe operations through mid-century [3][5] - In 2024, Oconee added a combined 45 megawatts through power uprate improvement projects across all three units [3] Group 3: Economic and Community Benefits - Duke Energy's nuclear plants generate large amounts of electricity at low operating costs, providing thousands of jobs and economic benefits to local communities [5] - The federal nuclear production tax credit incentivizes cost-efficient operations at existing plants like Oconee, further lowering nuclear energy costs for customers [5] Group 4: Future Energy Strategy - The approval of the license extension is a significant milestone for Duke Energy, aiding in the completion of license applications for other plants and ensuring nuclear energy remains a vital part of its generation portfolio [7][10] - Duke Energy is committed to an energy transition that includes investments in cleaner technologies while maintaining customer reliability and value [13]
Duke Energy Florida and its foundation continue their commitment to affordable housing with $75,000 in donations to Habitat for Humanity
Prnewswire· 2025-03-27 14:10
Core Points - Duke Energy Florida announced a grant funding of $75,000 to Habitat for Humanity organizations in Florida, increasing its total investment in affordable housing initiatives in the state to over $200,000 in five years [1][4] - The Duke Energy Foundation aims to enhance home affordability through grants that support new homes and workforce training, alongside an additional $20,000 for operational support to nonprofit organizations this year [2][10] - Duke Energy Florida and Habitat for Humanity share a commitment to building safe, affordable, and energy-efficient homes, with employees participating in volunteer events to contribute time and labor [3][4] Funding and Contributions - Since 2020, Duke Energy Florida has contributed over $200,000 to affordable housing initiatives in the state, part of a larger $1 million in donations and over 10,000 volunteer hours to Habitat for Humanity across all jurisdictions [4][10] - Specific grants awarded include $5,000 to Habitat for Humanity of Seminole County and Greater Apopka, $20,000 to Habitat for Humanity of Lake Sumter, and $30,000 to Habitat for Humanity Tampa Bay Gulfside [11] Company Overview - Duke Energy Florida, a subsidiary of Duke Energy, operates with 12,300 megawatts of energy capacity, serving 2 million customers across a 13,000-square-mile area in Florida [7] - Duke Energy, a Fortune 150 company, serves 8.4 million customers across multiple states and collectively owns 54,800 megawatts of energy capacity [8]
Duke Energy (DUK) Stock Drops Despite Market Gains: Important Facts to Note
ZACKS· 2025-03-24 22:55
Company Performance - Duke Energy's stock closed at $118.15, reflecting a -0.8% change from the previous trading day, underperforming compared to the S&P 500's gain of 1.77% [1] - The stock has increased by 3.07% over the past month, while the Utilities sector and the S&P 500 have seen losses of 0.53% and 5.73%, respectively [1] Upcoming Earnings - The company is expected to report an EPS of $1.60, representing an 11.11% increase year-over-year, with a projected quarterly revenue of $7.98 billion, up 4% from the previous year [2] Full Year Estimates - For the full year, earnings are projected at $6.32 per share and revenue at $31.72 billion, indicating increases of +7.12% and +4.48% from the prior year [3] Analyst Sentiment - Recent changes in analyst estimates suggest optimism regarding Duke Energy's business and profitability, with positive adjustments reflecting favorable short-term business dynamics [3] Valuation Metrics - Duke Energy has a Forward P/E ratio of 18.83, which is higher than the industry average of 17.92, and a PEG ratio of 2.97 compared to the industry average of 2.66 [6] Industry Ranking - The Utility - Electric Power industry ranks in the top 24% of all industries, with a current Zacks Industry Rank of 59, indicating strong performance potential [7]
Duke Energy invests $600,000 in North Carolina's community colleges to build next generation workforce
Prnewswire· 2025-03-20 14:55
Core Insights - Duke Energy Foundation announced a $500,000 investment to support 19 community college programs in North Carolina aimed at developing a skilled workforce for the energy industry [1][9] - An additional $100,000 grant will support the Forward Fund, which assists students in Southeastern North Carolina in securing high-wage employment opportunities [1][9] Group 1: Workforce Development Initiatives - The investment is part of Duke Energy's ongoing commitment to workforce development, totaling over $6.6 million in the last five years [2][9] - Community colleges in North Carolina are crucial in meeting the workforce needs as the state modernizes its energy infrastructure [2][3] - Durham Technical Community College received a $25,000 grant to enhance its Electric Line Technician Training program, highlighting the focus on in-demand positions [3][4] Group 2: Forward Fund and Financial Support - The Forward Fund provides zero-interest loans to cover essential life expenses, allowing students to focus on their education [5][6] - The fund targets students enrolled in short-term training programs that align with regional employer demand for high-wage jobs [5][6] - Repayments from the loans will be cycled back into the fund to support future learners, creating a sustainable financing model [6] Group 3: Duke Energy Foundation Overview - Duke Energy Foundation contributes over $30 million annually to philanthropic efforts in communities where Duke Energy operates [7] - The foundation is funded by Duke Energy shareholders, emphasizing the company's commitment to community support [7] Group 4: Company Profile - Duke Energy is a Fortune 150 company headquartered in Charlotte, N.C., serving 8.4 million electric customers across multiple states [8] - The company is focused on a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions by 2050 [10]
Duke Energy offers $500,000 to support South Carolina first responders
Prnewswire· 2025-03-19 14:00
Group 1 - The Duke Energy Foundation is offering $500,000 through the 2025 HERO Grant Program to support severe weather emergency preparedness in South Carolina [1][2][6] - Grants of up to $20,000 are available for training, life-saving equipment, and innovative technology to aid in disaster planning and recovery operations [1][3] - The HERO Grant Program has provided a total of $2 million in funding over four years, supporting 99 microgrants since 2022 [6][7] Group 2 - The funding aims to help local governments and nonprofits improve their planning and responses to severe weather events, particularly in low-income communities [2][3] - Duke Energy Foundation provides over $30 million annually in philanthropic support to meet community needs [5] - The company is focused on enhancing emergency response capabilities, as demonstrated by testimonials from local fire department chiefs regarding the impact of previous grants [7]