If they pay off debt that might affect earnings negatively this qtr. Interest rate hike hurting utilities in general.
In biotech, Institutions will run th price up and then just before the buyout announcement they drive it down to get weak hand shares. I have seen this technique used over and over again. It must work!
Dukes 1.5 billion dollar or 19.8 million share repurchase equates to a $75.757 per share purchase price. This saves nearly 63 million per year in dividend payments.