Duke Energy Corp Stock Price, News & Analysis

Duke Energy Indiana will extend its suspension of service disconnections for non-payment until September 15, 2020, assisting customers affected by the COVID-19 pandemic. Customers can arrange payment plans for up to six months and are encouraged to access additional assistance through the Low-Income Home Energy Assistance Program (LIHEAP). The company aims to resume standard billing practices by mid-August 2020. Duke Energy has also contributed over $950,000 to local non-profits during the pandemic to support food security and small business recovery.

Duke Energy Florida will resume standard billing practices in mid-August while continuing to support customers facing economic hardship due to COVID-19. Disconnections for non-payment will commence on September 1. The company has suspended fees for late payments and credit card transactions, and has donated $1 million to COVID-19 relief in Florida. Enhanced customer care options and payment arrangements will be available, alongside resources for financial assistance. Duke Energy emphasizes customer support as it transitions back to regular operations.

On July 8, 2020, Duke Energy reported a significant rise in scams targeting its customers during the COVID-19 pandemic, with over 15,000 attempts in 2020, nearing last year's total. June 2020 marked a record high with more than 4,000 reported scam attempts. New tactics include claiming to offer refunds for overpayments in exchange for personal information. Duke Energy emphasizes that it does not request personal data in this manner and has suspended disconnections for nonpayment. Customers are encouraged to verify their utility communications and report suspicious activity.

Duke Energy will announce its second-quarter financial results on Aug. 10, 2020, at 7 a.m. ET, with details available on its investors' section.

An earnings conference call will be held from 10 to 11 a.m. ET the same day, hosted by CEO Lynn Good and CFO Steve Young. The call can be accessed via phone at 800-458-4121 (U.S.) or 323-794-2093 (international) using code 1877808.

Duke Energy, one of the largest energy companies in the U.S., serves 7.8 million electric customers across six states.

Duke Energy Renewables has launched its largest solar project, the 200-MWac Holstein Solar facility in Nolan County, Texas. This project began commercial operations and will generate enough power for 40,000 homes. It includes over 709,000 solar panels across 1,300 acres and employed 400 workers at peak construction. The energy generated will be sold through a 12-year hedge agreement with Goldman Sachs. With this addition, Duke Energy's total solar capacity in Texas reaches 514 MWac, supporting the state's growing renewable energy market.

Duke Energy has declared a quarterly cash dividend of $0.965 per share, up $0.02, payable on Sept. 16, 2020, to shareholders of record by Aug. 14, 2020. Additionally, the Series A preferred stock dividend is set at $359.375 per share, also payable on Sept. 16, 2020. The Series B preferred stock dividend is $24.375 per share, due on the same date. Duke Energy has maintained dividend payments on its common stock for 94 consecutive years.

Duke Energy (NYSE: DUK) announced its commitment to pursue clean energy goals following the discontinuation of the Atlantic Coast Pipeline. The company will invest $56 billion in renewables, energy efficiency, and grid enhancements, promoting economic recovery and job creation. Duke Energy has reduced carbon emissions by 39% since 2005 and aims for a 50% reduction by 2030, with a long-term goal of net-zero emissions by 2050. An analyst call is scheduled for early August 2020 to discuss financial results.

Piedmont Natural Gas has filed a request to increase its base rates by 15% with the Tennessee Public Utility Commission, marking the first adjustment since 2012. The company has invested about $600 million in infrastructure to meet the needs of a growing population in the Nashville area, which has increased by 11.2% since 2010. If approved, the average residential customer's monthly bill would rise by $11, effective January 1, 2021, yet bills would remain 10% lower than in July 2018.

Duke Energy Progress announced a decrease in monthly bills for its South Carolina customers starting July 1, 2020. A typical residential customer using 1,000 kWh will see a reduction from $124.98 to $120.87, which is a 3.3% drop. Commercial and industrial customers will also experience reduced bills, averaging 1.6% and 2.9%, respectively. The primary driver for these decreases is the falling price of natural gas. Duke Energy aims to manage fuel costs effectively, ensuring customer savings.