Financial Performance - Duke Energy reported full-year 2025 adjusted EPS of $6.31, an increase from $5.90 in 2024, representing a growth of 6.9%[1][20] - The company introduced 2026 adjusted EPS guidance of $6.55 to $6.80, extending its long-term adjusted EPS growth rate of 5% to 7% through 2030[3][5] - Fourth-quarter 2025 reported EPS was $1.50, down from $1.54 in the fourth quarter of 2024, reflecting a decrease of 2.6%[6][19] - Duke Energy reported a net income of $1,169 million for the three months ended December 31, 2025, with an earnings per share (EPS) of $1.50[36] - For the year ended December 31, 2025, Duke Energy's net income available to common stockholders was $4,912 million, resulting in an EPS of $6.31[39] - The total reportable segment income for Electric Utilities and Infrastructure was $5,337 million for the year ended December 31, 2025[39] - Duke Energy reported a net income available to common stockholders of $4,542 million, with an earnings per share (EPS) of $5.90, reflecting a 3.3% increase from the previous year[46] - Net income for the year ended December 31, 2025, increased to $5,071 million, up from $4,614 million in 2024, and $2,874 million in 2023, reflecting a growth of 10% year-over-year[64] - Net income attributable to Duke Energy Corporation common stockholders for 2025 is $4,912 million, an increase from $4,402 million in 2024, marking a growth of approximately 11.6%[60] Revenue and Operating Income - Total operating revenues for 2025 are projected at $32,237 million, up from $30,357 million in 2024, indicating a growth of approximately 6%[60] - Operating income increased to $8,626 million in 2025, compared to $7,926 million in 2024, representing a year-over-year growth of about 8.8%[60] - The company’s total income from electric utilities and infrastructure was $5,224 million, while gas utilities and infrastructure contributed $454 million, leading to a consolidated total of $5,337 million[46] - Total operating revenues for Duke Energy in 2025 reached $32,237 million, compared to $29,060 million in 2024, marking an increase of approximately 7.5%[69] - Operating income for the year ended December 31, 2025, was reported at $8,626 million, a rise from $7,813 million in 2024, indicating a growth of 10.4%[69] Capital Expenditures and Investments - The 2025 capital plan totals $103 billion, driving an expected earnings base growth of 9.6% through 2030[5] - Duke Energy's capital investment projects are subject to construction and development risks, including financing and regulatory approval challenges[34] - Net cash used in investing activities increased to $(14,338) million in 2025 from $(13,123) million in 2024, reflecting a rise in capital expenditures[64] Customer and Market Dynamics - Duke Energy serves 8.7 million electric customers and 1.8 million natural gas customers across multiple states, with a total energy capacity of 55,700 megawatts[28] - The average number of residential customers grew by 1.6% to 7,585,493 for the three months ended December 31, 2025[111] - The average number of residential customers for Duke Energy Carolinas rose by 2.1% to 2,563,107 in Q4 2025[116] - The average number of total retail customers for Duke Energy Progress increased by 1.5% to 1,793,227 in Q4 2025[119] - The average number of residential customers increased by 1.5% to 1,830,253 in Q4 2025[122] Segment Performance - Electric Utilities and Infrastructure segment income for Q4 2025 was $1,209 million, slightly up from $1,208 million in Q4 2024[9][10] - Gas Utilities and Infrastructure segment income for Q4 2025 was $230 million, compared to $189 million in Q4 2024, marking an increase of 21.7%[11] - The Other segment reported a loss of $272 million in Q4 2025, worsening from a loss of $204 million in Q4 2024[13][14] - Segment income for Duke Energy Carolinas was $495 million, while Duke Energy Progress reported $307 million[82] Operational Challenges and Risks - The company faced challenges including potential declines in customer usage due to economic downturns and inflation pressures, which could impact future earnings[32] - Duke Energy's operational risks include the impact of severe weather events and the influence of regulatory changes on energy efficiency measures[32] - The company noted the potential for increased competition in electric and natural gas markets, which could affect its market position[32] - Duke Energy's financial stability may be influenced by changes in commodity prices and the ability to recover costs through regulatory processes[34] Tax and Regulatory Matters - The effective tax rate for the fourth quarter of 2025 was 11.3%, up from 8.1% in the same quarter of 2024[15][16] - Adjusted pretax income for the year was $5,536 million, with an effective tax rate of 11.3%[50] - The company recorded $33 million in impairments and other charges, primarily related to regulatory matters and customer billing adjustments[48] - Regulatory matters contributed $29 million as a reduction in operating revenues due to nonrecurring customer billing adjustments[48] Energy Generation and Sales - Total retail electric sales for the year ended December 31, 2025, were 264,008 GWh, reflecting a 2.1% increase compared to 2024[111] - Coal generation increased by 35.3% to 10,089 GWh for the three months ended December 31, 2025, while renewable energy generation rose by 28.6% to 917 GWh[111] - Total electric sales in Duke Energy Ohio increased by 2.5% to 5,625 GWh in Q4 2025, compared to 5,488 GWh in Q4 2024[125] - Total retail sales for Duke Energy decreased by 1.9% to 8,893 GWh in Q4 2025 compared to 9,064 GWh in Q4 2024[122] - Total sources of energy for Duke Energy increased by 4.6% in Q4 2025, reaching 8,171 GWh compared to 7,810 GWh in Q4 2024[128]

Group 1: Natural Gas Power Generation - The demand for baseload power generation is driving utilities to invest in modern natural gas-fired power plants, which offer operational flexibility and lower emissions [1] - Over 100 GW of new natural gas generation capacity has been announced in the U.S., although supply chain issues are causing delays [1] - Experts predict a strong near-term outlook for natural gas due to its ability to provide reliable power as the grid integrates more renewable energy sources [1] Group 2: CPV Basin Ranch Project - The CPV Basin Ranch Energy Center in Texas will have a generation capacity of 1,350 MW and is supported by a $1.1 billion loan from the Texas Energy Fund [2][3] - The project aims to enhance grid reliability following the February 2021 winter storm that caused widespread power outages [3] - CPV is committed to developing dispatchable power generation to meet Texas's growing energy demands [4] Group 3: Desert Sun Power Plant - Arizona Public Service (APS) plans to develop a 2,000-MW natural gas-fired Desert Sun Power Plant to support customer growth and data center investments [5] - The project will be executed in two phases, with Phase 1 expected to begin operations by late 2030 [5] - APS aims to maintain a balanced energy portfolio, adding 7,300 MW of new generation resources by 2028 [5] Group 4: Thurrock Power Project - The Thurrock Power project in the UK will feature a 450-MW flexible generation station designed to support grid reliability and integrate renewable energy [6][7] - The project is expected to be operational by late 2026 and will utilize Jenbacher engines for rapid start-up capabilities [7][8] - This project represents a significant milestone in the UK's energy transition towards a low-carbon power mix [8] Group 5: Xcel Energy Initiatives - Xcel Energy is investing in new gas-fired power plants in Texas and New Mexico, with a total capacity of 2,088 MW [9] - The company is transitioning from coal-fired generation to gas-fired units to meet growing energy demands [9] - Xcel's broader portfolio includes 17 new power initiatives aimed at adding over 5,000 MW of capacity by 2030 [9] Group 6: Siemens Energy Projects - Siemens Energy is involved in multiple international projects, including gas-fired plants in Saudi Arabia and Iraq, with a focus on hydrogen-ready technology [10] - The company is also developing modular gas-powered solutions for the data center sector, providing scalable power generation [10] Group 7: Net Power's Project Permian - Net Power is advancing its Project Permian clean firm power hub in West Texas, utilizing carbon capture technology [11][12] - The project aims for commercial operations by 2028, with a focus on meeting market demand for clean firm power [12] Group 8: Vistra Corp. Developments - Vistra Corp. plans to invest over $1 billion in new natural gas-fired generation capacity in Texas, targeting 860 MW from two new units [13] - The company aims to add more than 2,000 MW of new capacity in ERCOT between 2024 and 2028 [13] - Vistra is also repurposing the coal-fired Coleto Creek Power Plant to natural gas, restoring approximately 630 MW of generation to the grid [14] Group 9: Duke Energy's Expansion Plans - Duke Energy is proposing a $3.2 billion natural gas-fired plant in South Carolina, with a capacity of 1,400 MW [14] - The company plans to add about 9.7 GW of natural gas-fired generation capacity by 2033 across North and South Carolina [14]

Core Viewpoint - Duke Energy Corporation is expected to report its quarterly earnings on February 10, 2026, with an estimated EPS of $1.51 and projected revenue of approximately $7.64 billion, indicating a mixed outlook for the company [1][6]. Financial Performance - The anticipated EPS represents a 9% decline compared to the previous year, while revenue is expected to increase by 3.83% to $7.64 billion, showcasing the company's resilience amid challenges [2][6]. - Duke Energy has a history of exceeding earnings expectations, with an average earnings surprise of 5.72% over the last four quarters, which may influence investor sentiment [3][6]. Analyst Ratings and Price Targets - Analysts have varying opinions on Duke Energy's stock, with Barclays lowering its target price from $135 to $127 while maintaining an "overweight" rating, and BMO Capital Markets raising its target from $130 to $132 with an "outperform" rating [4]. - JPMorgan Chase and Co. adjusted their target price from $136 to $126, providing a "neutral" rating, reflecting the complexity of the current market environment for Duke Energy [4]. Stock Performance - Duke Energy's stock has outperformed the Zacks S&P 500 composite, achieving a positive return of 3.3% over the past month, compared to the composite's 0.9% increase, indicating strong market interest [5]. - The Zacks Utility - Electric Power industry, which includes Duke Energy, experienced a gain of 3.9% during the same period, further highlighting the company's competitive position [5].

Core Viewpoint - Duke Energy Corporation (NYSE:DUK) is recognized as one of the best oil and gas stocks to buy currently, despite recent price target reductions from various research firms [1][2][3]. Price Target Adjustments - BTIG reduced its price target for Duke Energy from $150 to $141 while maintaining a Buy rating, indicating a cautious but potentially positive outlook for upcoming earnings calls [1]. - RBC Capital lowered its price target from $143 to $140, keeping a Sector Perform rating, citing trends in utility companies providing early updates to capital plans [2]. - Wells Fargo cut its price target from $126 to $115 and maintained an Equal Weight rating, suggesting that Duke Energy is currently trading at a premium compared to its previous valuation [3]. Company Overview - Duke Energy Corporation is an American electric power and natural gas holding company, serving millions of customers across the United States through its electric and natural gas utilities [4].

Oil Market Overview - Oil prices have increased, with Brent crude futures rising by 50 cents (0.74%) to $68.05 per barrel and US West Texas Intermediate crude gaining 26 cents (0.41%) to close at $63.55 per barrel, recovering from earlier losses [1] - Investor concerns persist regarding the potential for military conflict between the US and Iran, despite recent discussions mediated by Oman [2][3] Geopolitical Impact - The ongoing tensions between the US and Iran pose a risk to oil flows, particularly through the Strait of Hormuz, which is crucial for global oil transportation, accounting for about one-fifth of global oil consumption [3] - If tensions ease, there is potential for a decline in oil prices [3] Investment Opportunities in Oil and Gas Stocks - A list of the 12 best oil and gas stocks to buy has been compiled based on market capitalization and hedge fund sentiment, indicating strong institutional interest [6][7] - Duke Energy Corporation (NYSE:DUK) and Occidental Petroleum Corporation (NYSE:OXY) are highlighted as top picks, with recent price target adjustments from various research firms indicating ongoing interest and potential for growth [8][13]

Core Viewpoint - Duke Energy Corporation (DUK) is expected to report its fourth-quarter 2025 results on February 10, with earnings estimated at $1.51 per share, reflecting a year-over-year decline of 9.04%, while revenues are projected to rise by 3.83% to $7.64 billion [1][7] Earnings Estimates - The Zacks Consensus Estimate for DUK's earnings per share (EPS) for the current quarter is $1.51, with a year-over-year growth estimate of -9.04% [2] - The estimates for the next quarter and the current year are $1.82 and $6.31, respectively, with the next year's estimate at $6.70 [2] - The number of estimates for the current quarter is 6, while for the current year, it is 10 [2] Earnings Surprise History - DUK has surpassed earnings expectations in each of the last four reported quarters, achieving an average earnings surprise of 5.72% [3] Earnings Prediction Model - The company's Earnings ESP is -2.54%, indicating that the model does not predict an earnings beat this time [5] - DUK currently holds a Zacks Rank of 4 (Sell), which does not favor an earnings beat [5] Factors Influencing Q4 Performance - DUK is likely benefiting from strategic investments in infrastructure modernization and grid resilience, which have improved operational efficiency [9] - Rising electricity demand from AI-driven data centers and an expanding residential customer base are expected to contribute positively to earnings [10] - Recent efficiency upgrades at power plants and new solar sites are anticipated to enhance performance [11] Stock Performance - Over the past three months, DUK's stock has declined by 0.2%, contrasting with the industry's growth of 1.2% [13] - The stock is currently trading at a premium compared to its industry on a forward 12-month P/E basis [15] Investment Outlook - DUK is gaining momentum through a diverse energy mix and ongoing investments in modern technology [18] - Recent developments, including the launch of a hydrogen production storage system and a battery energy storage system, are expected to strengthen grid reliability and support clean energy integration [19]

Core Insights - Duke Energy has been ranked No. 3 among electric and gas utilities in Fortune's World's Most Admired Companies list for 2026, improving from No. 4 last year, marking its ninth consecutive year on the list [1][2][3] Company Performance - The recognition indicates growing confidence in Duke Energy's leadership as it modernizes the grid, meets rising customer demand, and navigates a transformative period in the energy industry [2] - Duke Energy serves 8.6 million electric customers and 1.7 million natural gas customers across several states, with a total energy capacity of 55,100 megawatts [5] Investment and Infrastructure - The company is focused on an ambitious energy transition, investing in electric grid upgrades and cleaner generation sources, including natural gas, nuclear, renewables, and energy storage [6] - Over the next five years, Duke Energy plans to add more than 13 gigawatts of new generation capacity and invest over $35 billion in grid modernization [8] Reliability and Resilience - Smart, self-healing grid technology helped avoid 2.2 million customer outages in 2025, saving 5.2 million hours of total outage time, with nearly 75% of customers benefiting from this technology [8] - Since 2016, Duke Energy and its foundation have invested over $34.2 million in community resilience, emergency preparedness, and disaster relief [8]

Core Insights - Duke Energy Foundation is investing $500,000 to support community colleges in North Carolina to prepare skilled energy and trade workers [1][7] - The funding will provide grants of $25,000 to eligible community colleges to enhance programs in critical energy and skilled trade careers [2][8] - This initiative is crucial due to North Carolina's rapid growth and increasing energy demand, necessitating a strong workforce pipeline [2][8] Funding Details - A total of $500,000 will be awarded, with up to 20 community colleges eligible for grants [7][8] - Over the past five years, Duke Energy Foundation has invested more than $6 million in workforce development in North Carolina [8] Community Impact - The investment aims to align education with workforce needs, enhancing skills and economic mobility in North Carolina [8] - Community colleges play a vital role in building a skilled workforce that supports the state's economy and energy grid [8]

Core Thesis - Duke Energy Corporation is positioned as a strong investment opportunity due to its stable regulated returns, consistent dividend payments, and growth potential driven by increasing demand from data centers and manufacturing projects [1][6]. Company Overview - Duke Energy is the largest regulated electric utility in the U.S., serving 8.9 million electric customers and 1.7 million gas customers across eight states [3]. - The company has transitioned from its historical reliance on hydro and coal to a modern utility model focused on renewables, nuclear generation, and grid investments [3]. Financial Performance - As of February 3rd, Duke Energy's share price was $121.67, with trailing and forward P/E ratios of 19.11 and 18.12 respectively [1]. - The company reported Q3 2025 revenues of $8.54 billion, reflecting a year-over-year increase of approximately 4.8%, with GAAP EPS of $1.81 exceeding expectations [5]. Dividend and Growth Strategy - Duke Energy offers a $4.26 annual dividend, yielding 3.53%, supported by a payout ratio of 66.98% and a history of 20 consecutive years of dividend increases [5]. - The company has a five-year capital expenditure plan of $16 billion aimed at expanding its customer base and enhancing operational efficiency [6]. Market Position and Future Outlook - Duke Energy's regulated model provides protection against commodity volatility, allowing for predictable cash flows and customer growth [4]. - The company anticipates a demand increase of 3-4% through the decade, driven by trends in data centers and manufacturing [6].

Core Viewpoint - Duke Energy Corporation (DUK) has experienced underperformance compared to the broader market and specific utility ETFs, but shows potential for growth based on recent earnings and analyst ratings [2][3][5]. Financial Performance - DUK's market capitalization is valued at $94.4 billion, serving 8.4 million customers with electricity and natural gas [1]. - In Q3 2025, DUK reported an adjusted EPS of $1.81, exceeding Wall Street's expectation of $1.74, with revenue of $8.5 billion, surpassing forecasts of $8.4 billion [5]. - For the fiscal year ending December 2025, analysts project DUK's EPS to grow by 7% to $6.31 on a diluted basis [6]. Stock Performance - Over the past year, DUK shares have gained 6.7%, underperforming the S&P 500 Index's 15.5% increase [2]. - Year-to-date in 2026, DUK stock is up 2%, slightly outperforming the S&P 500's 1.9% rise [2]. - Compared to the iShares U.S. Utilities ETF (IDU), which gained about 9% over the past year, DUK's single-digit returns are more favorable on a year-to-date basis [3]. Analyst Ratings - Among 24 analysts covering DUK, the consensus rating is a "Moderate Buy," with 11 "Strong Buy" ratings, one "Moderate Buy," and 12 "Holds" [6]. - The mean price target for DUK is $133.74, indicating an 11.9% premium to current price levels, while the highest target suggests a potential upside of 22.2% [8].