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Aug. 04, 2022 7:01 AM ETDuke Energy Corporation (DUK)By: Shweta Agarwal, SA News Editor4 Comments
Duke Energy press release (NYSE:DUK): Q2 GAAP EPS of $1.14 beats by $0.06.
Revenue of $6.69B (+16.1% Y/Y) beats by $900M.
Reaffirmed 2022 adjusted EPS guidance range of $5.30 to $5.60 vs. consensus of $5.45 and adjusted EPS growth rate of 5% to 7% through 2026 off 2021 original midpoint of $5.15
BY MT Newswires
— 11:48 AM ET 07/13/2022
4:35 pm ET August 4, 2022 (CFRA) Print
We lower our 12-month target $4 to $113, 19.6x our 2023 EPS estimate (cut $0.02 to $5.76), discounted due to DUK's weaker dividend growth (we expect ~3.5% CAGR through 2025 vs. ~6.8% electric utility average), but near comparable peer valuations. We cut our 2022 EPS $0.02 to $5.45. Q2 adj. EPS of $1.14 vs. $1.15 was $0.06 above consensus, with higher electric rates and sales volumes, as well as favorable weather, offset by higher O&M costs in the electric and gas businesses. DUK disclosed a strategic review of its Commercial Renewables segment (only 2% of 2021 revenue), meaning a potential sale in the near future. DUK intends to use the proceeds to repay debt and focus on regulated renewable capital spending, and we see the move in step with several peers, such as American Electric Power (AEP 100 ***), that are seeking lower earnings risk through a more regulated utility portfolio. Retail electric sales grew 1.5% Y/Y, in line with DUK's full-year target, while residential electric customer growth was 1.8%.
BY MT Newswires
— 10:40 AM ET 07/21/2022
10:40 AM EDT, 07/21/2022 (MT Newswires) -- (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe.
I like NWE Northwestern Corporation. The dividend is 4.62%, Pay out ration is 73%, they increase dividend 16 years in row! I will buy this stock tomorrow.