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Duke Energy Provides A Sleep Well At Night Strategy
- Gains in this energy name have gotten long in the tooth and are taking a breather.
- The company is in the process of remediating its coal ash situation and is ready to put that debacle in the rear view mirror.
- The company is looking to vertically integrate its business by investing in the production of shale gas due to some EPA regulations and coal plants.
- The company reported segment revenues which were 3% higher than last year.
- The company's operating margins contracted while the net margin increased, thanks in part to discontinued operation income.
- As long as this bull run in the broader market continues, Duke will lag.
- Company has to make important strategic decisions regarding optimizing assets base and re-allocating capital effectively.
- Incremental capital spending opportunities will augur well for long term growth.
- 2015 EPS guidance and forward three-year EPS growth target will positively affect investor confidence and stock price.
- DUK is not suitable for either Defensive Investors or Enterprising Investors following the ModernGraham approach.
- According to the ModernGraham valuation model, the company is overvalued at the present time.
- The market is implying 6.5% earnings growth over the next 7-10 years, which is not supported by the rate the company has achieved in recent years.
Duke Energy Corporation Earnings Preview: Operational Discipline, Commercial Sector To Drive ResultsStock Gazer • Wed, Nov. 5
- Duke Energy Corp. (NYSE: DUK) is set to officially announce its earnings for the 3rd quarter of 2014.
- For the 2nd quarter of 2014, Duke posted revenues of $5.95 billion, a slim growth of 1.2% over last year’s figures of $5.88 billion.
- Net income for Duke Energy increased by a whopping 80% from $339 million in Q2 2013 to $609 million in Q2 2014.
- Duke Energy Corp. has remained focused towards its aim of efficiently expanding the scale of its operations.
- The company has solid prospects for dividend investors as it has continued to reward them, dividends are expected to grow to 79.5 cents per share in the 3rd quarter.
Powering A Portfolio With High-Yielding Duke Energy
- The company pays a solid dividend yield of 3.97%. The yield has decreased at the expense of a higher share price recently, but I'll take that any day!
- The stock appears to be fairly valued based on 2015 earnings estimates.
- The stock has shot up way to fast and is making new 52-week highs. For this reason I'm going to wait on buying shares now.
- Duke Energy has been an income investor’s paradise with a strong dividend payout history.
- The utilities might be on the chopping block if the changes in the U.S. economy hurt Duke Energy in the near future.
- Duke Energy has plans that will help it overcome the problems regarding the changes in the economy.
Duke Energy's Portfolio Reshuffling Will Enhance Its Position
- Focus on natural gas will result in better margins for the company as it is a cheaper option right now due to the low prices of natural gas.
- Diverse revenues base coming from coal, natural gas, nuclear and renewables will give stability to the revenues as well as cash flows.
- NCEMPA acquisition will result in increased customer base and an instant increase in revenues as well as cash flows.
- DUK is focusing on the international energy market for growth, given that it is expected to grow. It is likely that the market in Latin America will grow in the future.
- DUK is building a new wind project in Texas and is improving its Indiana electricity grid by investing $1.9 billion.
- DUK has improved its financial results from the year ago quarter and has set its earnings guidance of $4.50-$4.65 per share for the full year.
Duke Is A Slow-Moving Stock, But Offers A High Dividend Yield
- The stock is fairly valued on 2015 earnings estimates but expensive on earnings growth potential.
- The company has managed to increase its financial efficiency ratios since the last time I analyzed it.
- The stock may be experiencing a bit of bearish momentum right now.
- Duke Energy shares have underperformed the market this year, but the company's results indicate that it is moving in the right direction.
- Duke carries strong fundamentals and a decent dividend yield, while its valuation is also attractive.
- Duke has outlined aggressive investments for long-term growth.
Duke Holds Considerable Promise As Its Foundations Remain Strong
- The company’s actions are creating value for investors and making it a simpler, lower risk and higher quality story.
- Regulated capital spending will bode well for future EPS growth rate.
- Duke’s dividend growth in the future will track earnings growth.
- Increase in regulated operations will make high quality stock and justifies premium valuation for stock.
Is Duke A Decent Investment For Dividend Seekers?
- Duke Energy announced some of its growth and portfolio optimization steps, which include ownership in Atlantic Pipeline Venture and investments in the Los Vientos V wind project.
- Last month, Duke Energy reported its second quarter 2013 earnings, which came in ahead of analysts’ expectations by 11%.
- These projects will enable the company to expand its customer base, generate emission-free energy at lower costs, and underpin its EPS growth objectives.
- Currently, the company provides an attractive dividend yield of 4.4%.
- The stock has outperformed its peers with a total return of about 20% over the last twelve months.
- The company is diversifying its generation mix and the business segments with a focus on equal weight for coal, natural gas and nuclear energy.
- Focus on renewable energy will enhance the portfolio of the company and Duke Renewables will have the total capacity of 2,100 megawatts after the completion of Los Vientos windfarm.
- Expansion into the pipeline business will provide diversification to the revenue mix of the company.
Duke Energy - Buy For Income And Income Growth, But Not For Value
- Duke Energy's dividend growth could increase from 2% to over 3.8%.
- Management's new 2014 guidance is $4.50 to $4.65 EPS and a 4% to 6% growth rate, with a target of 65% to 70% dividend payout ratio.
- The Multi-Utilities industry is technically better positioned than Water and Gas Distribution industries for further share price increases.
- In the last three quarters, Duke Energy has surpassed the estimates with good margins.
- Duke Energy reported per share earnings of $1.11 surpassing the expectations of $0.98 per share earnings.
- Duke Energy is investing for future sustainable growth and planning to invest between $16 billion and $20 billion over the next four years.
High Yielding Duke Energy Provides A Good Entry Point Right Now
- The stock price is fairly valued on 2014 guidance and on 2015 earnings estimates.
- I calculate the risk/reward ratio to be a bit favorable right now.
- The company announced earnings last week which beat Street estimates and the company raised full year guidance; an excellent recipe for a stock price increase.
- Company likely to benefit from capital expenditures, fueling rate base, EPS and dividend growth.
- Efforts to expand regulated operations and scale down merchant operations will portend well for future financial performance.
- Healthy dividend yield of 4.3% makes it a good investment option for dividend investors.
Duke Energy Retains Importance For Investors' Income Portfolios
- DUK remains an attractive investment despite risks attached with increase in treasury yield.
- Company offers solid dividend yield of 4.3%.
- Dividends offered are backed by cash flows, evident by its healthy dividend coverage.
- DUK could update capital plan by increasing planned capital expenditure in the near future.
Mon, Apr. 14, 2:38 PM
- Duke Energy (DUK -0.1%) shareholders should vote against the re-election of four directors because of the recent coal ash spill that fouled the Dan River, CalPERS and NYC Comptroller Scott Stringer say.
- The four directors “have failed to fulfill their obligations of risk oversight as members of a committee overseeing health, safety, and environmental compliance at the company,” CalPERS senior portfolio manager Anne Simpson and Stringer say in a letter sent today.
Tue, Apr. 8, 5:48 PM
- North Carolina environmental regulators join with Duke Energy (DUK) in appealing a judge’s ruling on cleaning up groundwater pollution leeching from the company’s coal ash dumps, as the Environmental Management Commission and DUK contend North Carolina law does not give the state the authority to order an immediate cleanup.
- Environmentalists say the decision to file an appeal directly conflicts with public statements from Gov. Pat McCrory - who worked for DUK for 28 years before retiring to run for governor - suggesting his administration is getting tough with the company after a Feb. 2 coal ash spill that coated 70 miles of the Dan River.
Thu, Apr. 3, 8:47 AM
- Duke Energy (DUK) is formulating a plan to clean up its leaky coal-ash pits pits in North Carolina, CEO Lynn Good says, although the project will take time.
- Duke's 14 coal-fired plants in the state have 33 waste pits that are located along lakes and rivers.
- Good's remarks come after a massive coal-ash spill at Duke's Eden plant in early February polluted a 70 mile stretch of the Dean River with toxic sludge. (PR)
Tue, Apr. 1, 8:49 AM
- Duke Energy (DUK) and Piedmont Natural Gas (PNY) jointly issue a solicitation for proposals to build and operate a second major wholesale natural gas pipeline in North Carolina to meet growing demand in the Carolinas.
- DUK and PNY seek an initial natural gas pipeline capacity of as much as 900M cf/day, with a target in-service date of late 2018; the companies expect to select a proposal by late 2014.
Wed, Mar. 26, 2:15 PM
- Duke Energy (DUK -0.4%) says it has created an internal strategic task force to oversee an engineering review of its coal ash basins, and is hiring outside engineers to complete an assessment of the sites by the end of May.
- DUK also plans to move coal ash basins at three retired power plants, speed the closure of an additional basin, convert to dry ash handling at all remaining facilities in North Carolina and begin dewatering other retired basins.
- DUK has been under scrutiny since a coal ash spill in the Dan River prompted a federal grand jury inquiry in North Carolina into DUK and state regulators about oversight of the waste storage pond.
Tue, Mar. 18, 7:50 AM
- A federal grand jury will convene today in Raleigh, N.C., to question Duke Energy (DUK) and state regulators after the company poured as much as 39K tons of coal ash into the Dan River last month.
- DUK and North Carolina’s governor, a former DUK executive, are in dispute over the company’s obligations to clean up the spill and remove coal ash in 32 other such storage ponds in the state.
- As part of a federal criminal investigation, prosecutors are reviewing records, photos and emails exchanged between DUK and state regulators about the spill.
- The spill underscores a broader problem: Coal remains a top source of energy in the U.S., yet the EPA has no single federal standard requiring that coal ash storage ponds be lined and no common standard for pit or pond structures and monitoring.
Thu, Mar. 6, 7:18 PM
- The very notion of global warming used to anger most energy executives, but anti-environment rhetoric was dialed way back at this week's CERAWeek industry conference in Houston.
- "You can't argue with a rock," says BHP Billiton (BHP) CEO Andrew MacKenzie, whose geology training makes it clear to him that climate change is real and must be addressed; the telltale signs of a warming climate, he says, are baked right into the layers of earth his company digs up and drills through every day.
- Skepticism over the Obama administration also seemed on the wane, as EPA Administrator Gina McCarthy told attendees that looming new power plant rules would not "put the brakes on business"; Duke Energy's (DUK) Lynn Good is "encouraged" by McCarthy's approach - but says building new coal plants are not worth the regulatory risk.
- But skepticism of renewable energy abounds, with Eni's (E) Paolo Scaroni noting that Europe is realizing that renewables are "more a problem than a solution”; Siemens (SI) CEO Joe Kaeser says “using solar panels in Germany is like growing pineapples in Alaska."
Mon, Mar. 3, 5:58 PM
- North Carolina regulators cite five additional Duke Energy (DUK) power plants for lacking required storm-water permits after a recent spill at one of the company's coal-ash dumps coated 70 miles of the Dan River in toxic sludge.
- Two other violations were issued Friday against the Dan River Steam Station in Eden, site of the Feb. 2 spill; DUK could face hundreds of thousands of dollars in fines for the violations.
- The state Department of Environment and Natural Resources indicates it had been aware since at least 2011 that some DUK facilities lacked the required storm-water permits, yet took no enforcement action until after last month's spill.
Thu, Feb. 20, 11:25 AM
- Federal prosecutors have widened their investigation triggered by Duke Energy's (DUK -0.2%) massive coal ash spill in North Carolina, demanding reams of documents and ordering nearly 20 state environmental agency employees to testify before a grand jury.
- They also ordered state officials to hand over any records pertaining to investments, cash or other items of value they might have received from DUK or its employees.
- Meanwhile, state officials say DUK successfully contained ~90% of the flow from a second pipe at the dump spewing arsenic-laced groundwater into the Dan River.
Wed, Feb. 19, 9:54 AM
- North Carolina has ordered Duke Energy (DUK) to plug a leak of arsenic-contaminated waste-water that's flowing from a pipe located underneath a coal ash dump at the decommissioned Eden plant.
- The fear is that the water is entering a river that supplies drinking water, although Duke said yesterday that such supplies remain safe.
- The leak is the second this month from Eden after thousands of tons of sludge flowed into the Dan River from another pipe under the ash pond. Duke is being investigated for that accident.
Tue, Feb. 18, 3:58 PM
- Without specifically saying so, Duke Energy (DUK) thinks the 6,600 MW of merchant coal-, oil- and natural gas-fired units it plans to sell in the Midwest will bring in $1.5B-$2.5B, based on remarks from its earnings conference call.
- Duke CFO Steve Young said the net book value of the 3,400 MW of coal- or oil-fired units and 3,200 MW of gas-fired units is ~$3.5B, and that DUK expects to take a pre-tax impairment charge of $1B-$2B in Q1 to reflect the difference between the units' book value and the expected sales price.
- CEO Lynn Good said the decision to divest the Midwest merchant plants followed the Ohio Public Utilities Commission's Feb. 13 decision to reject DUK's request to recover additional costs associated with its merchant fleet in the region.
Tue, Feb. 18, 8:54 AM
- Duke Energy (DUK): Net profit rose 58% to $688M as the company's regulated utilities and international operations grew strongly.
- Duke achieved lower costs through synergies from the 2012 merger with Progress Energy and recovered infrastructure expenses through higher customer rates.
- Regulated utilities adjusted income +22% to $607M; international energy +21% to $108M; commercial power adjusted loss $3M vs break-even a year earlier.
- Forecasts 2014 adjusted EPS of $4.45-4.60 vs consensus of $4.57. (PR)
- Duke said yesterday that it plans to sell its Midwest commercial generation business, including holdings in 13 power plants, due to "volatile returns." As a result Duke will take a pretax impairment charge of $1-2B on its Q1 results. (PR)
- Shares are flat.
Tue, Feb. 18, 7:11 AM| Comment!
Tue, Feb. 18, 12:05 AM
Mon, Feb. 17, 5:30 PM
Thu, Feb. 13, 2:53 PM
- Duke Energy (DUK +0.7%) says it expects the number of customers in the Carolinas without power to exceed its most recent count of 190K outages due to the storm that has hammered the southeastern U.S.
- In the Carolinas, DUK says the outages are split almost evenly between the two states, with ~92K in North Carolina and 98K in South Carolina; overall customer outages in the region have totaled more than 500K.
- DUK says it has ~3,400 personnel working to restore power.
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