Duke Energy CorporationNYSE
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  • Tue, Nov. 22, 11:51 AM
    • Duke Energy (DUK -0.8%) agrees to plead guilty to a misdemeanor Clean Water Act violation and pay a $1M fine for its 9K-gallon diesel fuel oil spill into the Ohio River in August 2014.
    • The spill occurred when a worker transferring oil from one tank to another failed to stop the fueling when the tank was full, allowing the overflow to reach the river, just six months after a stormwater pipe under the main coal ash pond at the Dan River Steam Station in North Carolina collapsed, spewing toxic ash into the river.
    • DUK says it already has paid $950K to government and private entities for reimbursement of costs connected with the Ohio River spill.
    | Tue, Nov. 22, 11:51 AM | 5 Comments
  • Fri, Nov. 11, 6:33 PM
    • Duke Energy (NYSE:DUK) agrees to a $27M settlement of claims that directors wrongfully concealed their plan to fire CEO William Johnson just minutes after the company closed on its $13.7B merger with Progress Energy, Bloomberg reports.
    • DUK's lawyers say the settlement will be funded by insurance coverage and is not an admission by the company of any liability or wrongdoing.
    • Ex-Progress CEO Johnson became DUK’s CEO for “a few minutes” before the newly formed board held a meeting and voted to oust him and put the DUK CEO, James Rogers, in the job, according to investors’ court filings.
    • Under the merger deal, Johnson was supposed to become the merged company’s top exec, but the ex-DUK directors outnumbered former Progress board members and plotted to immediately remove Johnson once the deal was finalized, shareholders alleged.
    | Fri, Nov. 11, 6:33 PM | 3 Comments
  • Fri, Nov. 11, 5:55 PM
    • Duke Energy (NYSE:DUK) unveils plans to cap unlined and potentially leaking coal ash pits at 10 generating plants in North Carolina and Indiana while excavating its sites in Kentucky and South Carolina.
    • DUK's announcement comes ahead of an EPA deadline next week for utilities to declare their plans for storing decades of waste left after burning coal for power.
    • DUK says it plans to keep more than two-thirds of its coal ash in the ground by dehydrating the storage pools and covering the area with a waterproof liner and dirt to encase the waste, a plan that is criticized by environmental advocates who say ash near water supplies should be dug up and hauled away.
    • Sixteen other pits already are being closed under North Carolina law or lawsuit settlements, and eight other basins in Ohio and Indiana are not covered by the EPA deadline.
    | Fri, Nov. 11, 5:55 PM | 9 Comments
  • Mon, Nov. 7, 11:24 AM
    • Electric utilities have clear reasons to support the adoption of electric vehicles but have been slow to electrify their own truck fleets, but that may be starting to change, as Duke Energy (DUK +0.7%) signs a letter of interest to buy 500 electric trucks from Workhorse Group, a Cincinnati-based company that plans to start selling plug-in electric pickup trucks in 2018.
    • Companies have been slow to buy the vehicles for utility use because they say the specialized models they needed have not been readily available, and no major automaker has announced plans to sell an extended-range electric truck like the kind Workhorse is building.
    • The infrastructure needed for electric vehicles to gain market share is growing, with government support; the Obama administration last week announced plans to turn 48 major highway routes in 35 states into vehicle-charging corridors, starting next year.
    | Mon, Nov. 7, 11:24 AM | 14 Comments
  • Fri, Nov. 4, 7:01 AM
    • Duke Energy (NYSE:DUK): Q3 EPS of $1.68 beats by $0.10.
    • Revenue of $6.82B (+5.2% Y/Y) misses by $80M.
    • Press Release
    | Fri, Nov. 4, 7:01 AM | 5 Comments
  • Thu, Nov. 3, 5:30 PM
    | Thu, Nov. 3, 5:30 PM | 5 Comments
  • Thu, Oct. 27, 5:25 PM
    • Duke Energy (NYSE:DUK) declares $0.855/share quarterly dividend, in line with previous.
    • Forward yield 4.36%
    • Payable Dec. 16; for shareholders of record Nov. 18; ex-div Nov. 16.
    | Thu, Oct. 27, 5:25 PM | 5 Comments
  • Wed, Oct. 26, 1:22 PM
    • Nuclear power will come to an end in the U.S. if the industry fails to obtain more government support, Carlyle Group predicts.
    • U.S. nuclear reactors need more subsidies to keep running, such as a federal carbon tax that would reward them for their zero-emissions power, according to Bob Mancini, co-head of Carlyle's power unit.
    • Mancini points to measures approved in New York as an example of the kind of help nuclear power plant owners will need to survive; in August, NY state regulators cleared ~$500M/year in subsidies as part of a clean energy plan to reduce greenhouse gas emissions.
    • Relevant tickers include EXC, ETR, DUK, D, NEE, SO, PCG, ED, EIX, AEP, PPL, DTE, FE, NRG, PNM, POR, SCG, WR, XEL, LNT, GE, URA, NLR
    | Wed, Oct. 26, 1:22 PM | 44 Comments
  • Mon, Oct. 10, 8:43 PM
    • Duke Energy (NYSE:DUK) agrees to sell its international businesses in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina to I Squared Capital for ~$1.2B, just 12 hours after announcing the sale of its Brazilian operations to China Three Gorges, also for ~$1,2B.
    • The deals mark DUK's exit from Latin America to focus on regulated operations in the U.S.; a stronger dollar had hurt the company’s international operations, lowering the book value or carrying value of the businesses by ~$589M.
    • Separately, DUK said in mid-afternoon that its Florida crews have restored power to nearly 300K customers following Friday's hurricane, with only 8,500 customers still without electricity.
    | Mon, Oct. 10, 8:43 PM | 6 Comments
  • Mon, Oct. 10, 12:48 PM
    • Duke Energy (DUK +0.3%) says Hurricane Matthew left large portions of North and South Carolina more heavily damaged than projected, on a scale similar to the destruction of Hurricanes Hugo and Floyd, and that its electrical system will need to be rebuilt in some of its service areas.
    • DUK says more than 550K of its customers were without power as of last night after restoring power to more than 600K customers.
    • DUK says it has ~5,600 line workers, tree crews, damage assessors and support people in the field.
    | Mon, Oct. 10, 12:48 PM
  • Mon, Oct. 10, 7:15 AM
    • Duke Energy (NYSE:DUK) agrees to sell its Brazilian business to China Three Gorges Corp.  for ~$1,2B in cash, including debt.
    • DUK says it is the latest example of its strategy of exiting its international energy business and focusing on its core domestic regulated business.
    • China Three Gorges is the world´s largest producer of hydroelectric power, with an installed capacity of ~100 GW, both under operation and construction.
    | Mon, Oct. 10, 7:15 AM | 2 Comments
  • Wed, Oct. 5, 7:05 PM
    • Utilities shares (NYSEARCA:XLU) fell today for the ninth straight session, marking their longest losing streak since 2002 and deepening the recent slide in income producing investments as investors warily watch central banks and interest rates.
    • The S&P Utilities sector has dropped 7.5% in the nine days, including a 0.3% fall today, trimming its YTD gain to 8.9%; during the period, AES -10%, EXC -8.8%, PPL -8.8%, PCG -8.2%, ED -8%, EIX -7.6%, SO -7.4%, NEE -7.4%, SRE -7.1%, AEP -6.8%, D -6.7%, DUK -6.5%.
    • “Trees don’t grow to the sky,” says Fred Alger's Management's Brad Neuman, “It was almost like the market was waiting for an excuse” to send high-yielding stocks back toward their historical valuations, adding that such stocks could have further to fall.
    • Even after the recent decline in share prices, utilities had a 12-month trailing P/E ratio of 21.4 as of Tuesday, vs. 19.8 for the S&P; at the beginning of the year, utilities had a lower ratio than the broader market.
    | Wed, Oct. 5, 7:05 PM | 70 Comments
  • Fri, Sep. 30, 6:12 PM
    • Duke Energy (NYSE:DUK) confirms it will sell some if its ownership stake in the Atlantic Coast Pipeline to Dominion Resources (NYSE:D) on Monday, when it closes its $4.9B acquisition of Piedmont Natural Resources.
    • The proposed deal cleared its final hurdle yesterday when the North Carolina Utilities Commission approved the transaction.
    • DUK has owned 40% of the proposed 600-mile pipeline, but under the deal that formed the joint venture in 2014, Dominion must be the largest owner; the original ownership breakdown was D with 45%, DUK with 40%, PNY at 10% and AGL Resources, which has since been bought by Southern Co., with 5%.
    • Dominion says it will follow through with a previously announced plan to purchase a 3% stake from DUK, which will then give it 48% of the project and DUK 47%.
    | Fri, Sep. 30, 6:12 PM | 7 Comments
  • Thu, Sep. 29, 11:42 AM
    • Duke Energy’s (DUK -1.2%) purchase of Piedmont Natural Gas, set to close by the end of the year, will accelerate the company’s shift away from coal, CEO Lynn Good tells Bloomberg.
    • DUK will be able to build out Piedmont’s pipeline system to support its transition to gas-fired generation, a shift that eventually will eliminate coal entirely from its diet, Good says.
    • DUK has cut coal’s share in its overall electricity generation from ~60% in 2008 to roughly a third today, the CEO says, adding that the company likely still will be operating coal in 2030 but perhaps not by 2040.
    • Good has been seeking to add stable and regulated returns from transporting gas; DUK’s purchase of Piedmont will increase its stake in the proposed $5B Atlantic Coast Pipeline, which will ship gas from West Virginia to North Carolina, to 50%.
    | Thu, Sep. 29, 11:42 AM | 4 Comments
  • Wed, Sep. 21, 12:23 PM
    • The Atlantic Coast Pipeline joint venture says it signed a contract with Spring Ridge Constructors - comprised of Quanta Services (NYSE:PWR), Primoris Services (NASDAQ:PRIM) and others - as the lead construction contractor for the proposed $4.5B-$5B natural gas pipeline project.
    • Atlantic Coast Pipeline expects to receive a FERC certificate in late summer or fall 2017, with construction beginning shortly thereafter, and anticipates completing construction and bringing the pipeline into service in late 2019.
    • The pipeline is composed of Dominion (NYSE:D), Duke Energy (NYSE:DUK), Piedmont Natural Gas (NYSE:PNY) and Southern Co. (NYSE:SO)
    | Wed, Sep. 21, 12:23 PM | 6 Comments
  • Wed, Sep. 7, 9:54 AM
    • Norway's sovereign wealth fund says it has banned investments in Duke Energy (DUK -0.6%) and three subsidiaries after it determined that DUK failed to meet its environmental standards.
    • At year-end of 2015, the fund held $304M worth of DUK shares, or 0.62%, as well as $77M worth of DUK corporate bonds.
    • The decision by the world's largest sovereign wealth fund was made by the executive board of Norway's central bank, which oversees the $894B government fund, based on advice from the fund's Council on Ethics.
    | Wed, Sep. 7, 9:54 AM | 13 Comments