Duke Energy Corp Stock Price, News & Analysis

Duke Energy Foundation has announced a new child care innovation grants program with over $100,000 in funding aimed at addressing child care gaps in Indiana. The initiative responds to the significant rise in child care costs and a decrease in licensed providers, which negatively impacts working parents and businesses. Research from Indiana University's Public Policy Institute indicates that Indiana loses nearly $1.1 billion yearly due to child care-related absenteeism and turnover. Organizations can apply for grants up to $40,000 with an intent to propose by April 17, 2023 and grant proposals due by May 8, 2023. This program intends to foster community investments in early child care to support workforce growth.

Duke Energy is advancing its infrastructure in Florida to meet rising energy demands, focusing on reliable and affordable electricity for its 1.9 million customers. The company is enhancing its electric grid, integrating renewable energy sources, and has added 700 megawatts of solar capacity from 2018 to 2022, with an additional 750 megawatts planned by 2024. Led by LaQuitta Ghent, the team is committed to community engagement and customer satisfaction. Ghent emphasizes the importance of providing safe and reliable power, especially for essential services. With an evolving energy landscape, Duke Energy aims for net-zero carbon emissions by 2050, balancing growth with sustainability.

Duke Energy will release its first-quarter 2023 financial results on May 9 at 7 a.m. ET. This announcement will be accessible on the company's investor relations website. Following this, a conference call is scheduled at 10 a.m. ET, led by Lynn Good and Brian Savoy, to discuss the financial results and provide business updates. Interested participants can join via the investor section of the Duke Energy website or by phone. A recording of the call will be made available on May 10. Duke Energy serves 8.2 million customers in multiple states and is focused on a robust clean energy transition, targeting net-zero carbon emissions from electricity generation by 2050.

Duke Energy Florida is set to begin construction on its first floating solar array pilot in Polk County, enhancing its clean energy efforts. This nearly 1 MW project, comprising over 1,800 floating solar modules, will occupy around 2 acres of a cooling pond at the Hines Energy Complex. The construction is expected to take five to six months. This initiative is part of the Vision Florida program aimed at testing innovative clean energy technologies. Duke Energy, a major energy player, is committed to achieving net-zero carbon emissions from electricity generation by 2050 and has set interim carbon reduction targets.

Duke Energy Corporation (NYSE: DUK) announced the pricing of a private offering of $1.5 billion in convertible senior notes with an interest rate of 4.125% due April 15, 2026. The offering includes a possible additional $225 million for overallotments. The net proceeds, estimated at $1.476 billion, will be used to repay commercial paper and for general corporate expenses. The convertible notes are convertible under specific conditions, with an initial conversion rate of 8.4131 shares per $1,000 principal amount, representing a 25% premium over the most recent stock sale price.

Duke Energy Foundation has launched its second year of a $500,000 microgrant program to enhance emergency preparedness in South Carolina. The initiative aims to improve community resilience against severe weather through funding for training, equipment, and advanced technology. Applications are open for nonprofits and governmental agencies until April 5, with requests up to $20,000. In 2022, the foundation supported 34 organizations, providing vital resources for disaster planning and response. This commitment underscores Duke Energy's ongoing support for local emergency responders:

Fifteen lineworkers from Duke Energy Florida qualified for the International Lineman's Rodeo in Bonner Springs, Kansas, scheduled for October 11-14, 2023. They secured their spots after dominating the regional Duke Energy Florida Lineman's rodeo on April 1, 2023. This competition involved over 70 apprentices and 12 journeyman teams showcasing their skills in various tasks related to safety and efficiency. The success of these lineworkers highlights Duke Energy's commitment to excellence in safety and service delivery with a focus on continuous skill enhancement.

Duke Energy Corporation (NYSE: DUK) announced plans for a private placement of $1.5 billion in convertible senior notes due 2026. This offering may be increased by $225 million via an over-allotment option for initial purchasers. The funds will be utilized to repay outstanding commercial paper and for general corporate activities. The notes will be unsecured, directly obligated by Duke Energy, and convertible under specific conditions. Duke Energy intends to sell these notes to qualified institutional buyers under Rule 144A of the Securities Act.

On April 2, 2023, Duke Energy announced the restoration of power to over 61,000 customers in Indiana after severe storms disrupted services. Approximately 70,000 customers experienced outages, with around 9,200 still without power as of Sunday morning. Duke Energy's workforce has been supplemented by contractors to expedite the restoration process, focusing on critical areas first. The company aims to restore nearly all services by midnight that day, though some areas may face extended outages due to severe damage. Customers can receive updates through text alerts by texting REG to 57801.