Relentless high shelter prices weighed on consumers, with broader price pressures increasing more than anticipated in January. The Labor Department noted that the consumer price index (CPI), which measures the prices of indispensable goods and services that American citizens have to bear, increased 0.3% month over month in January, more than the estimated monthly increase of 0.2%.The yearly consumer inflation rate may have fallen to 3.1% in January from December’s 3.4%, but it still hasn’t declined below th ...

Key PointsDuke Energy stock is down after missing on the top and bottom lines. The results show that the company is still wrestling with higher-for-longer interest rates. The utilities sector was the worst-performing sector in 2023, but that could be ready to change. Solid fundamentals and a more attractive valuation make DUK stock an attractive choice for investors looking to stay ahead of inflation.  5 stocks we like better than Duke EnergyDuke Energy Corp. NYSE: DUK is down 3.9% since missing on the top ...

CHARLOTTE, N.C., Feb. 9, 2024 /PRNewswire/ -- Duke Energy (NYSE: DUK) has been recognized by Fortune magazine as one of the World's Most Admired Companies for 2024. This is the seventh consecutive year the company has made the list, ranking as one of the top four gas and electric utilities for the third year in a row.   "Providing safe, reliable and affordable energy is foundational to serving our customers and communities. It is an honor for Duke Energy to be recognized by industry peers, directors and ana ...

U.S. utility company Duke Energy will reportedly decommission industrial batteries manufactured by Chinese company CATL connected to a green energy project at Marine Corps Base Camp Lejeune in North Carolina. The company also plans to phase out CATL products at its civilian projects after U.S. lawmakers raised national security concerns about CATL's ties to the Chinese government and hackers targeting critical U.S. infrastructure, including the power grid, Reuters reported."In partnership with policymakers ...

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share of $5.56 for 2023, reflecting a 6% growth over 2022 and finishing within the guidance range [21][45] - The 2024 guidance range is set at $5.85 to $6.10, with a midpoint of $5.98, indicating more than 7% growth over 2023 [11][21] - The effective tax rate (ETR) for 2023 was 10%, with an expected increase to between 12% and 14% for 2024 [31] Business Line Data and Key Metrics Changes - The electric segment anticipates normal weather and retail volume growth of approximately 2% in 2024 [11] - The gas segment continues to show strong growth due to investments in integrity management and serving a growing customer base [46] - Residential customer growth was strong across all jurisdictions, particularly in the Carolinas and Florida, with a 2.1% and 2% increase respectively [12] Market Data and Key Metrics Changes - The company added 195,000 new customers in 2023, marking the largest customer increase in its history [12] - Economic development opportunities span various industries, including semiconductors, EVs, and data centers, contributing to a load growth expectation of 1.5% to 2% [13] Company Strategy and Development Direction - The company is undergoing a fundamental repositioning to become a fully regulated utility, with a projected $73 billion in capital expenditures over the next five years, an increase of $8 billion from the previous plan [2][8] - Investments will focus on a diverse energy mix, including renewables, natural gas, and next-generation nuclear, to meet growing customer demand and transition away from coal by 2035 [25][34] - The company aims to maintain a strong balance sheet while pursuing growth opportunities and optimizing capital allocation [50][94] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver sustainable value and achieve 5% to 7% growth through 2028 [17][21] - The company is committed to safety and reliability, achieving its best safety performance in history in 2023 [4] - Management highlighted the importance of infrastructure investment to support economic growth and customer needs in its service territories [54] Other Important Information - The company plans to file for new generation resources in North Carolina and Indiana, targeting over 2 gigawatts of new natural gas generation in 2024 [25][72] - The payout ratio is being adjusted to 60% to 70% from 65% to 75%, providing additional financial flexibility [52] Q&A Session Summary Question: CapEx expectations and scenarios - Management indicated that the $8 billion increase in CapEx reflects early estimates and will continue to be refined as regulatory processes progress [40][41] Question: Nuclear PTC market and risks - Management confirmed strong initial responses in the transferability market for nuclear PTCs and emphasized that tax credits directly benefit customers [42][43] Question: Load growth outlook - Management expects a 2% load growth in 2024, driven by economic development, residential normalization, and optimism among existing commercial and industrial customers [106] Question: Timing for Indiana rate case - Management is evaluating the timing for the Indiana rate case, considering capital investments and regulatory cycles [72] Question: Dividend growth and payout ratio - Management remains committed to dividend growth while adjusting the payout ratio for financial flexibility [81] Question: Regulatory strategy in Florida - Management confirmed that they will continue to engage with intervening parties in Florida and pursue constructive outcomes [83]

Duke Energy Corporation (DUK) reported fourth-quarter 2023 adjusted earnings of $1.51 per share, which missed the Zacks Consensus Estimate of $1.54 by 1.9%. However, the bottom line increased 36% year over year.Including one-time adjustments, the company reported GAAP earnings of $1.27 per share against the year-ago quarter’s loss of 86 cents.For 2023, the company reported adjusted earnings of $5.56 per share, which missed the Zacks Consensus Estimate of $5.59 by 0.5%. However, the bottom line increased 5.5 ...

Financial assistance and energy-saving tools and tips are available to help customers ST. PETERSBURG, Fla., Feb. 7, 2024 /PRNewswire/ -- As winter temperatures continue to fluctuate in Florida, Duke Energy is reminding customers of resources, tips and tools to help them manage energy usage and reduce their utility bills. For December and January, Duke Energy meteorologists reported peak highs in the upper 70s to mid-80s, with peak lows in the 30s and mid-40s. And while these temperature swings are typical ...

CHARLOTTE, N.C., Feb. 6, 2024 /PRNewswire/ -- Duke Energy (NYSE: DUK) has been named one of America's Most JUST Companies for the second consecutive year, ranking 57th overall, up from 79th in 2023. The JUST 100 recognizes U.S. corporations who outperform on issues that matter most in defining just business behavior today. "Our long-term success is deeply intertwined with the health and well-being of the communities we serve, and it's an honor to be recognized by JUST Capital as a JUST 100 company," said Ka ...

Duke Energy (DUK) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on February 8, 2024, might help the stock move higher if these key numbers are better than ...

Palmetto State's population grew faster than anywhere in the nation in 2023 Company continues to pursue 'all of the above' generation strategy, which provides diverse energy sources to meet state's growing electricity demand GREENVILLE, S.C., Jan. 31, 2024 /PRNewswire/ -- From population growth to the expansion of manufacturing and other major economic development wins, South Carolina is booming. According to the Census Bureau, the Palmetto State had the fastest growing population in the nation in 2023, l ...