Duke Energy Corporation (DUK) Company Brief
Shares of Duke Energy Corporation (NYSE: DUK) reached a high of $17.01 today. At last check, it was up 0.65% to $16.98, with volume at 1.25 million in morning trading today.
The stock has a 52-week range of $14.62-$17.94. It is currently trading above its 50-day and 200-day moving averages of $16.34 and $16.14, respectively. The stock has seen support at $16.76 and has met with resistance at $17.05.
Duke has a consensus recommendation of Hold. Currently, the stock has 1 Buy, 1 Outperform, 16 Hold and 4 Underperform ratings.
Based in Charlotte, North Carolina, Duke is one of the largest electric power companies in the U.S. The company supplies and delivers energy to around 4 million customers in the U.S. The company has around 35,000 megawatts of electric generating capacity. It also has natural gas distribution services in Ohio and Kentucky.
Duke reported its first-quarter financial results on May 4, 2010. The company reported improved quarterly results due to favorable weather, increased retail sales volumes and price adjustments. Duke reported first-quarter adjusted diluted EPS of $0.36 per share, up from $0.28 per share reported for the same period last year. Reported diluted EPS for the first quarter stood at $0.34 per share, up from $0.27 per share for the same period last year.
Duke’s U.S. Franchised Electric and Gas unit reported first-quarter 2010 segment EBIT from continuing operations of $744 million, up from $557 million reported for the same period last year.
The company’s Commercial Power unit reported first-quarter 2010 segment EBIT from continuing operations of $129 million, up from $114 million reported for the same period last year. Meanwhile, Duke Energy International reported first-quarter 2010 segment EBIT from continuing operations of $140 million, up from $93 million reported for the same period last year.
Duke had announced last month that it will pay a quarterly cash dividend of $0.245 per share, which is an increase of half cent over the previous level. The dividend will be payable on September 16, 2010. James E. Rogers, Duke’s chairman, president and CEO, said that the dividend increase is consistent with the company’s stated objective to continue growing the dividend at a slower rate than the long-term growth rate in its adjusted-diluted EPS.
Duke will report its second-quarter financial results on August 3, 2010.
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