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Duke Energy Corporation (NYSE:DUK) is scheduled to report its Q2 2012 results on August 2, 2012, before market opens. The Street expects EPS and revenue of $0.97 and $4.25B, respectively.

In this article, I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from DUK and the news from its closest competitors.

Duke Energy Corporation Revenue and Net Income History

Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last four quarters. In the last quarter, it reported $1.14 EPS, beating analyst estimates of $1.09.

Duke Energy Corporation EPS Historical Results vs Estimates

The consensus EPS estimate is $0.97 based on 11 analysts' estimates, down from $0.99 a year ago. Revenue estimates are $4.25B, up from $3.53B a year ago. The median target price by analysts for the stock is $69.00.

Average recommendation: Hold

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On July 10, 2012, UBS downgraded the company from Buy to Neutral.
  • On May 23, 2012, UBS upgraded the company from Neutral to Buy.

Latest News

  • On July 28, 2012, Law Offices of Howard G. Smith announced that it is investigating potential claims against Duke Energy Corporation, concerning possible violations of federal securities laws in connection with Duke's merger (Merger) with Progress Energy Inc. (Progress).
  • On July 26, 2012, Glancy Binkow & Goldberg LLP announced that it is investigating potential claims on behalf of all those who acquired the common stock of Duke Energy Corporation, in connection with Duke's merger (Merger) with Progress Energy Inc. (Progress), and all persons who purchased or otherwise acquired Duke common stock between June 28, 2012, and July 9, 2012.
  • On July 26, 2012, Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, announced it is investigating extending the class period in theDuke Energy Corp (Duke) and Progress Energy, Inc. (Progress Energy) securities class-action lawsuit, which currently is limited to investors who acquired New Duke shares as part of the companies' merger or who purchased DUK common stock between June 28, 2012 and July 9, 2012.
  • On July 26, 2012, The Investment Losses and Shareholder Rights Law Firm Gilman Law LLP announced that it is investigating potential breach of fiduciary duty claims on behalf of shareholders of Duke Energy Corp. against the board of directors of Duke in connection with their efforts to merge the Company with Progress Energy, Inc. (Progress).
  • On July 25, 2012, Law Firm Of Kessler Topaz Meltzer & Check, LLP announced that a class action lawsuit was filed in the United States District Court for the Eastern District of North Carolina on behalf of those who acquired the common stock of Duke Energy Corp (Duke or the Company), in connection with the Company's merger with Progress Energy Inc. (Progress) (the Merger), and on behalf of all persons who purchased or otherwise acquired Duke common stock between June 28, 2012 and July 9, 2012 (the Class Period), inclusive.
  • On July 12, 2012, Reuters reported that Duke Energy Corp is under regulatory scrutiny over the abrupt ouster of its CEO, is not expected to be forced to undo its purchase of Progress Energy, but could face a cold reception when it seeks new power rates in North Carolina later this year.
  • On July 11, 2012, Block & Leviton LLP, a Boston-based law firm representing investors nationwide, announced that it is investigating possible breaches of fiduciary duties by the Board of Directors of Duke Energy Corporation (Duke Energy or the Company) in connection with its merger with Progress Energy Inc. (Progress Energy) and the subsequent ouster of Chief Executive Officer Bill Johnson (Johnson).
  • On July 7, 2012, Reuters reported that North Carolina officials late on July 6, 2012, launched two investigations into the surprising move by Duke Energy Corp directors to replace former Progress Energy Chief Executive Bill Johnson with Duke CEO Jim Rogers, just a day after a deal to create the largest U.S. utility company was finalized.
  • On July 3, 2012, Duke Energy announced that it had an adjusted diluted EPS guidance range of $1.40 to $1.45 for fiscal 2012. With the 1-for-3 reverse stock split, which was completed in connection with the merger, this stand-alone guidance range becomes $4.20 to $4.35 per share.
  • On July 3, 2012, Duke Energy announced the closing of its previously announced merger with Progress Energy Inc., effective July 2, 2012. The new Company will be known as Duke Energy and will remain headquartered in Charlotte, with substantial operations in Raleigh, N.C. Duke Energy will trade on the New York Stock Exchange under the symbol DUK. In accordance with the terms of the merger agreement, Progress Energy Inc. has become a wholly owned direct subsidiary of Duke Energy.
  • On July 3, 2012, Dow Jones reported that Duke Energy Corp.'s Latin American subsidiary Duke Energy International acquired bankrupt Chilean Campanario power plant from private-equity fund Southern Cross Group for $86.2 million.
  • On June 26, 2012, Duke Energy announced that it has declared a quarterly cash dividend on its common stock of $0.255 per share, an increase of a half-cent over the previous level.
  • On May 4, 2012, Duke Energy announced that first quarter of 2012 result shows, it is well-positioned to achieve fiscal 2012 adjusted earnings guidance range of $1.40 to $1.45 per share.
  • On February 16, 2012, Duke Energy announced that it has established its 2012 adjusted diluted earnings per share (NYSEARCA:EPS) guidance range at $1.40 to $1.45. This range does not contemplate the effects of the proposed Progress Energy merger.

Competitors

American Electric Power (NYSE:AEP), Dominion Resources (NYSE:D), Consolidated Edison (NYSE:ED), Exelon (NYSE:EXC), and Southern Company (NYSE:SO) are considered major competitors for Duke Energy and the table below provides the key metrics for these companies and the industry.

Duke Energy Corporation key ratio comparison with direct competitors

The chart below compares the stock price changes as a percentage for the selected companies for the last one-year period.

DUK Chart

DUK data by YCharts

Competitors' Latest Development

  • On July 25, 2012, Exelon Corp announced that it has declared a regular quarterly dividend of $0.525 per share on Exelon's common stock. The dividend is payable in September.
  • On July 20, 2012, American Electric Power announced that earnings guidance for fiscal 2012 remains suspended because of the ongoing Ohio regulatory proceedings. The company's earnings performance was strong for the first half of 2012, but it faces challenges for the remainder of the year, including customer switching in Ohio.
  • On July 16, 2012, Southern Co announced a regular quarterly dividend of USD0.49 per share on the Company's common stock, payable September 6, 2012, to shareholders of record as of August 6, 2012.
  • On July 12, 2012, Exelon Corp's Constellation announced it has renewed and extended for two years an agreement to supply competitively priced electricity to the state of New Jersey.
  • On June 29, 2012, Southern Company and Turner Renewable Energy founder Ted Turner announced that the companies have acquired and will bring on line a 20 megawatt solar photovoltaic power plant in Nevada.
  • On June 14, 2012, Exelon Corp announced that Marshall County and Toluca, Ill. have chosen Constellation, a longtime competitive energy provider in Illinois with 1 million customers nationwide, to supply residents with low-cost hydroelectric energy following a competitive bidding process under the state`s electricity choice aggregation program.
  • On May 15, 2012, Southern Company announced that for fiscal 2012, it expects earnings per share growth range of 4% to 7% off of the guidance range that the Company gave this year of $2.58-$2.70 range.
  • On May 8, 2012, Dominion announced that its Board of Directors has declared a quarterly dividend of $0.5275 per share of common stock. Dividends are payable on June 20, 2012, to shareholders of record June 1, 2012.
  • On May 4, 2012, Consolidated Edison, Inc. announced that it confirms its previous forecast of earnings per share from ongoing operations in the range of $3.65 to $3.85 a share.
  • On April 26, 2012, Dominion announced that it expects second quarter 2012 operating earnings in the range of $0.55 per share to $0.65 per share. Operating earnings guidance for fiscal 2012 remains at $3.10 to $3.35 per share.
  • On April 25, 2012, Southern Company announced that for second quarter of 2012, it expects earnings per share to be $0.65. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.70 for second quarter of 2012.
  • On April 20, 2012, American Electric Power announced that its focus on the growth aspects and repositioning the Company around transmission and other growth areas will be significant.
  • On March 23, 2012, Exelon Corp's Constellation Energy announced that it has been awarded a new General Services Administration (GSA) electricity supply contract for 17 federal buildings in California, including the Court of Appeals building in San Francisco.
  • On March 12, 2012, Exelon Corp and Constellation Energy announced that they have completed their merger, effective immediately. Upon the closing of the merger, Christopher M. Crane became president and Chief Executive Officer of the combined company, and Mayo A. Shattuck III became executive chairman.
  • On March 8, 2012, American Electric Power announced that its unregulated subsidiary AEP Retail Energy has completed the acquisition of BlueStar Energy Holdings Inc. and its independent retail electric supplier BlueStar Energy Solutions.
  • On February 14, 2012, Southern Telecom, a wholly owned subsidiary of Southern Company announced that Tower Cloud, a fiber optic and wireless backhaul network provider, has selected the company for long-haul fiber optic services in the state of Georgia.
  • On February 10, 2012, American Electric Power announced that earnings range for fiscal 2012 will be in the range of $3.05-$3.25 per share with a midpoint of $3.15. Earnings growth will be in the range of 4% to 6% supported by the rate-based growth of the regulated companies.
  • On February 7, 2012, Southern Company's Southern Telecom announced that Integrated Communication Solutions, a technology systems integrator and technology management services provider, has formalized an agreement to provide managed and unmanaged collocation and interconnect services in Birmingham, Ala. This new agreement provides Data Center infrastructure, technology integration services, and network interconnect services to all organizations that require critical system uptime, backup operation, and effective system availability during disaster recovery situations or as the primary data center for system operations.

Technical Overview


The stock has a market capitalization of $89.35B and is currently trading at $67.46 with a 52-week range of $50.61-$71.13. The stock's year-to-date performance has been 4.62%. It is currently trading above 20, 50 and 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Duke Energy Corporation