Duke Energy Today | --- | --- | |----------------------|-------| | | | | Duke Energy | | | $113.80 | | | +0.29 (+0.26%) | | | 52-Week Range $83.06 | | | ▼ | | | $116.67 | | | Dividend Yield 3.67% | | | P/E Ratio 28.59 | | | Price Target $106.75 | | Add to Watchlist Duke Energy NYSE: DUK is in the utilities sector and is the third-largest electric utility company in the United States and Canada by market capitalization. The firm has outperformed its sector and the market in 2024, with a total return of 19%. ...

OliverChilds Duke Energy (NYSE:DUK) reported a solid set of Q2 results. EPS topped estimates and its management team reaffirmed guidance. I have a hold rating on the stock, though. It's a fundamentally sound company in my view, but shares are merely near fair value while its technical situation is encouraging, with the stock testing threeyear highs. The Utilities sector has been in favor over the past month as investors have rotated out of tech and high-growth stocks. Some might call it late-cycle behavior ...

Advanced automated technology, year-round grid strengthening work accelerates rapid response during powerful storm Company has restored more than 330,000 customers since Sunday morning, with approximately 5,000 customers remaining as of 3:15 p.m. ST. PETERSBURG, Fla., Aug. 7, 2024 /PRNewswire/ -- Duke Energy rapidly restored power for more than 90% of its customers within 24 hours after Hurricane Debby made landfall in Florida's Big Bend. The company credits the rapid response to its year-round storm prepar ...

Core Insights - Duke Energy is mobilizing 7,500 workers, including 300 from the Midwest, to support storm restoration efforts as Tropical Storm Debby approaches the Carolinas [1][2] - The Duke Energy Foundation has donated $50,000 to the American Red Cross for disaster response and relief efforts, contributing over $2.8 million in the past five years [2][3] Company Operations - Duke Energy is strategically staging crews across the Carolinas to ensure a prompt response once conditions are safe [2] - The company serves 8.4 million customers across multiple states and has a total energy capacity of 54,800 megawatts [11] Safety and Preparedness - Customers are encouraged to prepare for potential power outages by creating emergency supply kits and having a plan in place [5][6] - Duke Energy provides safety guidelines for electrical hazards during floods, emphasizing the importance of turning off power and avoiding downed lines [7][8] Clean Energy Transition - Duke Energy is committed to a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions by 2050 [12] - The company is investing in electric grid upgrades and cleaner energy sources, including renewables and energy storage [12]

ST. PETERSBURG, Fla., Aug. 6, 2024 /PRNewswire/ -- Duke Energy Florida rapidly restored power for 90% of its customers within 24 hours after Hurricane Debby made landfall in the Big Bend. Crews continue to work tirelessly to restore power in areas hardest hit, and the company will not stop until every customer has power. Duke Energy Florida anticipates restoring 95% of customers in Citrus, Hernando, Lake, Levy, Marion and Sumter counties by 11:59 p.m. Tuesday evening, though many customers will be restored ...

Grant will help fund 40-mile transmission line rebuild in Wake, Johnston and Wayne counties to improve reliability for an estimated 14,000 customers RALEIGH, N.C., Aug. 6, 2024 /PRNewswire/ -- U.S. Secretary of Energy Jennifer Granholm today announced the U.S. Department of Energy (DOE)'s Grid Deployment Office has selected the North Carolina Innovative Transmission Rebuild project to receive $57 million in cost-share funding to enhance the power grid's ability to deliver affordable, resilient energy. The p ...

Financial Performance - Q2 2024 reported EPS was $1.13, and adjusted EPS was $1.18[9] - The company reaffirmed its 2024 adjusted EPS guidance range of $5.85 - $6.10[9] - The company reaffirmed its growth rate through 2028 of 5% - 7% off the midpoint of the 2024 guidance range ($5.98)[9] Capital Investments and Regulatory Approvals - Approximately $75 billion of investments have been approved or settled since 2023[12] - The company has a $73 billion five-year capital plan (2024-2028)[7] - Approximately 90% of electric capital investments are eligible for efficient recovery mechanisms[7] Load Growth and Economic Development - Q2 2024 total retail volume growth was 1.9% compared to Q2 2023[19] - The company projects total load growth of approximately 2% in 2024[19] - Data center load represents 3% of total commercial sales in 2023, projected to grow to 10% in 2028[21] Financial Position - The company is on track for 14% FFO/Debt in 2024 and is targeting a minimum of 14% over the long term[22] - The company plans for $500 million in annual equity issuances from 2024-2028 via DRIP/ATM[22] - As of June 30, 2024, total available liquidity was approximately $5.9 billion[43, 71]

Financial Data and Key Metrics Changes - Adjusted earnings per share for Q2 2024 were reported at $1.18, an increase of $0.27 compared to the previous year, driven by growth across electric utilities and improved weather conditions [5][12] - The company reaffirmed its 2024 guidance range of $5.85 to $6.10 and a long-term EPS growth rate of 5% to 7% through 2028 [5][18] Business Line Data and Key Metrics Changes - Electric Utilities & Infrastructure segment saw an increase of $0.34 in earnings per share, attributed to rate increases, higher sales volumes, and warmer weather [12] - Gas Utilities & Infrastructure segment reported a decrease of $0.02 in earnings per share due to higher interest expenses and depreciation [12] - The Other segment also decreased by $0.05, primarily due to increased interest expenses [12] Market Data and Key Metrics Changes - Weather-normalized volumes increased by 1.9% compared to last year, aligning with full-year projections [13] - Customer growth was robust, particularly in the Carolinas and Florida, which saw a 2.4% increase in the first half of the year [13] - Commercial and industrial volumes increased over 1% compared to last year, driven by strength in the commercial sector [14] Company Strategy and Development Direction - The company is focused on a $73 billion capital plan aimed at grid and generation investments to support growing communities [4] - There is a commitment to a diverse and increasingly clean energy mix, with ongoing investments in renewables and natural gas [8][10] - The company is exploring tailored solutions for large-scale energy needs through partnerships with major corporations like Google and Microsoft [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering the 2024 earnings guidance and highlighted strong fundamentals in growing jurisdictions [18] - The company is optimistic about the economic development pipeline and expects load growth to accelerate in the coming years [15][39] - Management acknowledged potential headwinds from economic downturns but remains focused on maintaining customer demand [28] Other Important Information - The company is actively involved in regulatory processes, with significant rate base investments approved across multiple states [6][7] - The company has a strong balance sheet and is on track to achieve a 14% funds from operations to debt ratio by year-end [17] Q&A Session Summary Question: Load growth projections and capital plan reassessment - Management indicated that they are encouraged by the economic development pipeline and will provide updates in February regarding load growth and capital plans [20][21] Question: Update on nuclear PTCs - Management expects formal guidance for nuclear PTCs by the end of the year and plans to monetize approximately $250 million of nuclear PTCs in Q3 [22][23] Question: Settlement potential in Indiana - Management is open to settlement discussions ahead of the evidentiary hearing and feels confident about the case presented [25][26] Question: Tracking within EPS guidance - Management sees more tailwinds than headwinds and is confident in achieving the 5% to 7% EPS growth target [27][28] Question: Industrial growth and load trends - Management noted robust residential growth and higher-than-expected commercial growth, while industrial growth is anticipated to rebound later [38][39] Question: Impact of upcoming elections on IRP - Management does not expect the elections to impact the IRP process and emphasizes a bipartisan approach to energy policy [40][41] Question: Changes in regulatory strategy - Management highlighted ongoing stakeholder engagement and operational excellence as key to achieving strong regulatory outcomes [44][45] Question: Frequency of IRP filings - Management indicated that while full IRP filings may not occur annually, more frequent updates could be expected as load growth is monitored [46][47] Question: Potential for settlement in South Carolina - Management stated it is too early to determine the potential for a settlement in South Carolina as procedural processes are still ongoing [49] Question: Thoughts on new nuclear technology - Management confirmed that small modular reactors (SMRs) are included in their near-term action plans and are slated for development [50][51]

Key Takeaways Duke Energy beat second-quarter earnings and revenue estimates on higher rates and sales volumes, as well as favorable weather. The company's Electric Utilities and Infrastructure division posted a 28.2% year-over-year jump in income. Income from Duke Energy's Gas and Infrastructure unit tumbled as costs rose. Duke Energy (DUK) shares advanced after the utility company swung to a profit as it benefited from higher prices and sales volumes, as well as favorable weather conditions. The North Car ...

CHARLOTTE, N.C., Aug. 6, 2024 /PRNewswire/ -- As Tropical Storm Debby approaches North Carolina, Piedmont Natural Gas is urging customers to follow a few simple steps to stay safe if their natural gas equipment or appliances are damaged or flooded due to severe weather. "Keeping our communities safe is at the heart of what we do, and we want to make sure our customers know how to stay safe before, during and after this storm passes," said Adam Long, Piedmont Natural Gas chief operations officer. "Following ...