Duke Energy Corp Stock Price, News & Analysis

Duke Energy's Outdoor Lighting team is innovating to protect sea turtle hatchlings by reducing artificial light distractions along Florida's beaches. Their solution, the Narrow Band Amber LED fixture, will guide turtles towards the ocean instead of hazardous areas. Installed in Treasure Island in 2021, this technology has garnered positive feedback from local officials and aims to enhance both driver safety and turtle conservation. As more fixtures are deployed throughout Florida and into the Carolinas, Duke Energy is improving relationships with environmental advocates while fostering better nesting habitats for turtles.

Duke Energy Progress has secured a comprehensive agreement with various parties in South Carolina regarding its rate review request. If approved, the agreement will result in a $10.95 monthly increase for the typical residential customer using 1,000 kWh, with a total increase of $52 million—41% less than the initially requested $89 million. This agreement also addresses coal ash basin closure costs and allows for a 9.6% return on equity. The decision supports the company’s efforts to enhance reliability and customer experience.

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Duke Energy Sustainable Solutions (DESS) has commenced operations on the 207-megawatt Ledyard Windpower project in Kossuth County, Iowa, marking its entry into the Iowa market. The project, co-developed with Amshore Renewable Energy, will produce enough renewable energy to power 75,000 homes and created around 200 jobs during construction. Verizon Communications has entered a 15-year virtual power purchase agreement for 180 MW from this project, aligning with its net-zero emissions goal by 2035. Additionally, DESS supports the Ledyard Fire Department with a $60,000 grant.

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Duke Energy will release its fourth-quarter and year-end 2022 financial results on February 9, 2023, at 7 a.m. ET. An earnings conference call will follow at 10 a.m. ET, hosted by CEO Lynn Good and CFO Brian Savoy. The call can be accessed on their investors' section. Duke Energy, serving 8.2 million customers, aims for a 50% carbon reduction by 2030 and net-zero emissions by 2050. The company was recognized in Fortune's and Forbes' esteemed lists for 2022.

Duke Energy (NYSE: DUK) announced a quarterly cash dividend of $1.005 per share, payable on March 16, 2023, to shareholders recorded by February 17, 2023. Additionally, dividends on Series A and Series B preferred stocks were declared, amounting to $359.375 and $24.375 per share, respectively, also payable on the same date. The company has maintained a consistent cash dividend for 97 consecutive years, reflecting its commitment to shareholder returns and financial stability.

Duke Energy issued an apology to customers after rotating power outages affected approximately 500,000 customers in North Carolina and South Carolina during Winter Storm Elliott. This marked the company's first-ever implementation of rolling outages in the Carolinas, necessitated by extreme cold and high electricity demand. The outages were prolonged due to automated system failures and communication issues. Duke Energy's leadership expressed commitment to improving reliability and customer communication in future emergencies.

Duke Energy has responded to the North Carolina Utilities Commission's (NCUC) recent order regarding its carbon plan, a mandate under state law. The plan, initially proposed in May 2022, will be updated every two years, with a new proposal due by September 1, 2023. Duke Energy's statement emphasized progress in transitioning to clean energy, having retired two-thirds of its coal plants and achieved a 40% reduction in emissions since 2005. The company supports a balanced approach to resource planning, aiming for net-zero carbon emissions by 2050.