Welcome to our dedicated page for Duke Energy news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy stock.
Duke Energy Corporation (NYSE: DUK) generates a steady stream of news as a Fortune 150 energy holding company with major regulated electric and natural gas utilities. This page aggregates coverage of Duke Energy’s announcements, allowing readers to follow developments affecting its multi-state operations in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, as well as its natural gas utilities in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.
News about Duke Energy frequently highlights investments in electric grid upgrades, cleaner generation and customer affordability. Recent company communications describe targeted infrastructure projects in Florida that expand solar capacity, upgrade natural gas power plants, harden the grid against storms and deploy self-healing technology, with reported savings of more than $1 billion in energy costs for customers. Other updates detail changes to storm cost recovery charges and bill impacts in response to hurricanes and regulatory decisions in the Carolinas and Florida.
Investors and observers can also track Duke Energy’s progress on the energy transition through news on nuclear and advanced technologies. Examples include the DeBary Hydrogen Production Storage System in Florida, capable of producing, storing and using green hydrogen, and large battery energy storage systems at former coal plant sites in the Carolinas. Regulatory and financial news items cover rate cases, performance-based regulation proposals, production tax credit mechanisms, and scheduled earnings releases and conference calls.
Community and philanthropic initiatives are another recurring news theme, such as America250 grants from the Duke Energy Foundation and employee-driven community investments. By following Duke Energy news, readers can monitor operational decisions, regulatory outcomes, infrastructure projects, customer programs and community support efforts that shape the company’s role in the U.S. utilities sector.
Duke Energy (NYSE: DUK) issued a response to Elliott Management's latest letter, asserting its commitment to long-term shareholder value amidst Elliott's short-term agendas. Duke Energy criticized Elliott for failing to provide actionable ideas for improving shareholder value and rejected its previous proposals, including a $7 billion equity scheme and a complex company breakup. Duke's management emphasized continuous engagement with shareholders and highlighted its strong Total Shareholder Return of 47% over three years. The company aims for a 5% to 7% adjusted EPS growth rate through 2025 while leading a significant clean energy transition.
Duke Energy's subsidiary, eTransEnergy, has been designated by GM as a preferred provider to assist fleet and BrightDrop customers in transitioning to electric vehicles via GM's Ultium Charge 360 service. Launched in February 2021, eTransEnergy supports logistics and delivery companies, educational institutions, and transit agencies in achieving sustainable transport goals. The service offers comprehensive infrastructure planning, smart charging, and on-site solar energy options. This partnership aims to enhance EV adoption, reduce carbon emissions, and improve overall fleet efficiency.
Duke Energy is allocating $734,000 towards workforce development programs in Florida. The funding aims to support underrepresented groups in the energy sector, enhancing the state's skilled workforce. Notably, the University of Florida will receive $100,000 for an Energy Sustainability program. Other recipients include local educational institutions and organizations, focusing on initiatives to prepare job seekers with essential skills. The Duke Energy Foundation prioritizes the creation of diverse job opportunities to strengthen communities and economies.
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.
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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.
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