Duke Energy Corp Stock Price, News & Analysis

Duke Energy will announce its second-quarter 2021 financial results on August 5, 2021, at 7 a.m. ET. The announcement will be available on their investors' website. An earnings conference call is scheduled from 10 to 11 a.m. ET, led by CEO Lynn Good and CFO Steve Young. A replay of the call will be available until 1 p.m. ET on August 15, 2021. Duke Energy serves 7.9 million customers and is investing in renewable energy and grid upgrades.

Duke Energy has announced a quarterly cash dividend of $0.985 per share, reflecting a $0.02 increase. This dividend is set to be paid on Sept. 16, 2021 to shareholders recorded by Aug. 13, 2021. In addition, a quarterly cash dividend of $359.375 on Series A preferred stock and a semi-annual cash dividend of $24.375 on Series B preferred stock have also been declared, both payable on the same date. Duke Energy has maintained cash dividends on its common stock for an impressive 95 consecutive years.

Duke Energy quickly responded to power outages caused by Tropical Storm Elsa impacting Florida on July 7, 2021, with 7,345 outages reported at peak. Crews restored over 28,000 outages, leveraging a team of about 3,000 members from various states. The company emphasized its preparedness and commitment to assisting affected customers. Further, Duke Energy is investing in grid modernization, with smart technology expected to serve over 80% of Florida customers by 2027. The firm also aims for a 50% carbon reduction by 2030 and net-zero emissions by 2050.

Duke Energy is taking proactive measures as Tropical Storm Elsa approaches Florida's west coast, urging customers to prepare for potential power outages. The company has activated its storm center and mobilized about 3,000 crews and specialists for swift response. Duke Energy emphasizes safety and encourages customers to update emergency kits and stay informed through local news and weather advisories. The company operates in several states, leveraging resources from unaffected areas to ensure effective service restoration post-storm.

Duke Energy Florida has proposed new measures to assist low-income customers amid ongoing economic challenges. The proposal, submitted to the Florida Public Service Commission, includes a 5% increase in the Neighborhood Energy Savers program and temporary changes to the Florida Energy Efficiency and Conservation Act (FEECA). Eligible customers will receive a $30 assistance incentive and access to 20,000 energy efficiency kits. This initiative, developed with customer representatives, aims to address the financial struggles many families face due to high energy bills and the impacts of COVID-19.

Duke Energy has commenced construction on the 22.6-MW Stony Knoll Solar power plant in Surry County, North Carolina, marking it as the largest solar facility in the area. The project, owned by Duke Energy Sustainable Solutions, will utilize 76,600 bifacial solar modules and is expected to power around 5,000 homes upon completion, targeting operational status by the end of 2021. This project is part of Duke Energy's broader strategy to enhance renewable energy, aiming for 16 GW of renewable capacity by 2025, while significantly reducing carbon emissions.

Duke Energy has filed an application with the U.S. Nuclear Regulatory Commission to renew the operating licenses for its Oconee Nuclear Station for an additional 20 years. This renewal, if approved, will extend the licenses to 2053 and 2054. Oconee, Duke's largest nuclear facility, contributes over 2,500 megawatts of carbon-free electricity and plays a crucial role in the company's carbon reduction goals. The nuclear fleet prevented nearly 50 million tons of CO2 emissions in 2020, underscoring its importance for a cleaner energy mix.

Duke Energy, based in Charlotte, N.C., is offering customers low- to no-cost energy efficiency tips to help manage higher energy bills during the summer. With energy use expected to rise, the company suggests practical steps like changing air filters, adjusting thermostats, and using ceiling fans. Additionally, customers can utilize smart meters to track daily energy usage and receive alerts about their bills. Duke Energy aims for significant carbon reductions by 2030 and net-zero emissions by 2050, reinforcing its commitment to a sustainable energy future.