Duke Energy Corp Stock Price, News & Analysis

Duke Energy (NYSE: DUK) aims to enhance its renewable energy production significantly by 2030, targeting a tripling of output from renewable sources. Currently, 7% of its electricity comes from renewables, expected to grow to 23%. The company plans at least a 50% reduction in carbon emissions by 2030 and aims for net-zero by 2050. Furthermore, Duke Energy is retiring coal plants, with 52 retired since 2010, and is investing in renewable projects across several states. The firm reported a 40% drop in CO2 output since 2005, while its electricity rates remain below the national average.

Duke Energy has completed the installation of nearly 2 million smart meters in Florida, enhancing customer service and energy management. This multiyear effort aims to provide customers with improved access to their electricity usage data, enabling quicker outage responses and personalized billing options. The smart meters will allow customers to track their energy consumption and receive alerts, ultimately helping them make informed decisions about their energy usage. This initiative is part of Duke Energy's strategy to create a smarter energy future and better meet the evolving needs of its 1.9 million Florida customers.

Duke Energy (NYSE: DUK) has launched Duke Energy Sustainable Solutions, a new brand consolidating its renewable energy products and services. This initiative aims to provide tailored clean energy and resilient infrastructure solutions to businesses, government organizations, and educational institutions across the U.S. The brand positions itself as a strategic partner in achieving sustainability and resiliency goals, leveraging Duke Energy's extensive industry expertise. The company targets a 50% carbon reduction by 2030 and net-zero emissions by 2050, supporting over 1,000 projects with more than 5,100 megawatts of nonregulated renewable energy.

Duke Energy has allocated over $1 million in grants to 51 organizations in North Carolina to help mitigate pandemic-related learning losses among students. This initiative aims to support vulnerable communities through summer learning, tutoring, and supplemental educational opportunities. Notable recipients include Durham Public Schools, which received $25,000 for outdoor learning programs. This grant is part of Duke Energy's broader commitment, which saw the foundation contribute more than $30 million annually, funded by shareholder dollars.

Duke Energy (NYSE: DUK) will host its annual shareholders meeting online on May 6, 2021, at 12:30 p.m. ET. Chair and CEO Lynn Good will discuss the company's 2020 performance and future strategy. Shareholders can participate, vote on proposals, and ask questions during the meeting. Access details are provided in Duke Energy's proxy statement. The company serves 7.9 million electric customers and is committed to a clean energy strategy, targeting at least a 50% carbon reduction by 2030, and net-zero carbon emissions by 2050.

Duke Energy has responded to the North Carolina Utilities Commission's (NCUC) order regarding its 2019 rate adjustment request. The company emphasized its commitment to customer support during the pandemic, including suspending disconnections and providing over $20 million in charitable contributions. The NCUC approved several settlements aimed at reducing coal ash management costs and improving the energy grid to allow for more renewables. Significant contributions of $6 million and $5 million over two years will support energy-saving measures and assistance for low-income customers.

Duke Energy has launched an Electric Vehicle Savings Calculator to help drivers assess potential savings from switching to electric vehicles (EVs). This tool requires users to input their daily mileage, current vehicle fuel efficiency, and gasoline prices. There are currently over 1.7 million EVs on U.S. roads, with projections of 18 million by 2030. Duke Energy is actively expanding EV infrastructure, including a $25 million pilot in North Carolina for charging stations, and a program in South Carolina offering $1,000 incentives for residential EV charging installations.

Duke Energy will announce its first-quarter 2021 financial results on May 10, 2021, at 7 a.m. ET. The news release will be available on the company’s website. 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. Investors can access the call via phone or the investor section of the website. A replay will be available until May 20, 2021. Duke Energy serves over 7.8 million customers across six states and has an electric generating capacity of 51,000 megawatts.