|Bid||78.72 x 800|
|Ask||78.72 x 900|
|Day's Range||78.63 - 79.70|
|52 Week Range||71.96 - 91.80|
|PE Ratio (TTM)||19.90|
|Forward Dividend & Yield||3.71 (4.65%)|
|1y Target Est||N/A|
Duke Energy says it's been forced to shut down its natural gas plant in Wilmington, North Carolina, because of flooding caused by Hurricane Florence. Colette Luke has more.
Floodwaters topped a dike at Sutton Lake which led to breaches at the lake's south end, causing it to flow back into the river. Coal ash may have flowed into the Cape Fear River, raising fears of possible contamination.
Russell Stokes, the president and CEO of General Electric’s (GE) Power unit, published an article on LinkedIn on September 19. He confirmed that the company discovered an oxidation issue with a single blade component in its advanced gas turbines installed at Exelon’s (EXC) Texas power plant.
The stay issued Monday by the 4th Circuit Court of Appeals covers only 21 miles of 600-mile Atlantic Coast Pipeline — the sections running through the George Washington and Monongahela national forests.
On September 21, the implied volatility in FirstEnergy (FE) stock was close to 16%—near its 15-day average. The implied volatility was notably higher than broader utilities and broader markets. A higher implied volatility shows more investor anxiety. Higher implied volatility is usually associated with a fall in the stock and vice versa.
PPL’s payout ratio was 75% in the last 12 months, which was higher than its five-year average payout ratio of 65%. During the same time, Southern Company’s (SO) payout ratio was 76%. A payout ratio indicates a portion of a company’s profits distributed to shareholders in the form of dividends.
With notable weakness last week, the Utilities Select Sector SPDR ETF (XLU) has fallen below its 50-day moving average level. Its 200-day moving average level of ~$51.2 is likely to act as a vital support for it in the short term. XLU closed at $53.06 last week.
FirstEnergy (FE) is trading at a dividend yield of 3.9%—higher than most utilities. The Utilities Select Sector SPDR ETF (XLU) offers a yield of 3.3%. FirstEnergy’s five-year average dividend yield is ~4.8%. In the first quarter of 2014, FirstEnergy cut its dividend per share from $0.55 to $0.36 when cash retention became vital. Since then, FirstEnergy hasn’t increased its quarterly dividend. Currently, FirstEnergy is trading at a forward dividend yield of 3.9%.
Duke Energy says slightly elevated Cape Fear River readings for arsenic, iron, chromium and other metals downstream from the flooded Sutton Power Plant are well below levels set by state water quality standards.
As many as 8,000 people in and around the city of Georgetown, South Carolina, have been urged to evacuate ahead severe flooding expected this week from two rain-gorged rivers in what may be the final destructive chapter of Hurricane Florence. Floodwaters of 5 to 10 feet (1.5 to 3 m) are expected to inundate Georgetown and surrounding communities by late this week as the Pee Dee and Waccamaw rivers overurn their banks along the low-lying tidal flats where they converge at Winyah Bay, which flows into the Atlantic. The potential flood zone encompasses some 3,500 homes in Georgetown, which lies at the confluence of the two rivers at the top of the bay, and the coastal resort community of Pawleys Island, she told Reuters.
Rain-swollen rivers in North and South Carolina kept rising on Sunday and were forecast to remain at flood level for days, the National Weather Service said more than a week after the landfall of Hurricane Florence, already blamed for at least 40 deaths. As many as 8,000 people in and around Georgetown, South Carolina, have been "strongly urged" to evacuate flood-prone areas along the Waccamaw and Pee Dee rivers early this week, Georgetown County spokeswoman Jackie Broach-Akers told Reuters. The flood zone includes Georgetown, at the rivers' confluence, and the coastal resort community of Pawleys Island.
Rivers and waterways in North and South Carolina were expected to crest on Sunday and remain at dangerous flood levels for days, the U.S. National Weather Service warned more than a week after the arrival of Hurricane Florence, which has killed at least 40 people. Much of the region remained under heavy flooding, including one area 40 miles (64 km) north-northwest of Wilmington where waters were still five feet (1.5 meters) above flood status, according to the National Weather Service. "All that water is going to take a good while to recede," he said.
WILMINGTON, N.C. (AP) — Gray muck is flowing into the Cape Fear River from the site of a dam breach at a Wilmington power plant where an old coal ash dump had been covered over by Florence's floodwaters.
WILMINGTON, N.C. (AP) — Florence's floodwaters breached a dam holding back a large reservoir at a Wilmington power plant Friday, and coal ash from an adjacent dump could be flowing into the nearby Cape Fear River.
Duke Energy Corp. said Friday that the rising Cape Fear River overtopped the dam at a cooling pond next to a coal-ash landfill at its L.V. Sutton Power Plant. The company believes the coal ash—which was about 5 feet below a steel wall at last check—is still contained, but Duke Energy spokeswoman Paige Sheehan said she couldn’t rule out the possibility that coal ash was moving into the Cape Fear River.
Duke Energy Corp said it shut down a North Carolina natural gas plant due to flooding as the deluge of water continued in the aftermath of Hurricane Florence, which has killed more than 40 people. Duke also said it cannot rule out the possibility that coal ash from another plant is flowing into nearby waters. Water breached the cooling lake dam at Duke's 625-megawatt natural gas L.V. Sutton plant, causing the company to shut the plant.
U.S. equities on the S&P 500 sold off into Friday's close after spending the majority of the day in positive territory, joining the Nasdaq in the red for the day. The Dow Jones Industrial Average gained 0.26%, or 69 points to 26,726, while the S&P 500 fell 0.05%, or 2 points to 2,929, and the Nasdaq fell 0.51%, or 41 points to 7,987. activated a high-level emergency alert at a retired coal-fired power plant because of rising floodwaters from Hurricane Florence possibly breaching a dam nearby, the company said the dam has, in fact, been breached and coal ash could be flowing into nearby Cape Fear River.
The breach of a pond used to store coal ash in North Carolina has revived criticism of the Trump administration’s efforts to loosen restrictions on how power plants dispose of the toxic waste. The Environmental Protection Agency in July relaxed Obama administration requirements that forced companies to keep a closer watch on coal ash disposal sites and their potential groundwater contamination -- and signaled further revisions sought by industry are coming. “The rollbacks by the Trump administration make these kinds of risks more likely and more dangerous,” said John Rumpler, clean water program director for advocacy group Environment America.
Duke Energy Progress says coal-ash by-products have washed out of an inactive coal-ash basin to the Cape Fear River and it cannot be certain that contaminated ash has not leaked.
Three retired coal-ash ponds at the H.F. Lee plant are underwater and appear to have released ash into the Neuse River. Meanwhile, the Cape Fear River has swamped Sutton Lake's dam at the Sutton Power Plant in Wilmington.
Duke Energy Corp. warned Friday that flooding at a plant in Wilmington, North Carolina caused by the storm named Florence has caused breaches in the dam holding a cooling lake for a natural gas plant and that coal ash may be flowing into the Cape Fear River. The company has shut down the 625-megawatt natural gas plant as a safety precaution. "The rising river continues to overtop the north end of the cooling lake dam, a surface that is protected by a layer of compacted soil and cement," the company said in a statement. "Water is now exiting the cooling lake through breaches - one large and several smaller - on the southern end of the impoundment." The site contains two coal ash basins, one of which is believed to be holding in place behind a steel wall separating the excavation layer from the cooling lake. But cenospheres, lightweight beads made up of alumni and silica that are byproducts of coal combustion, are moving to the cooling lake and into the river. Experts are on site and are developing a repair plan, the company said. Shares fell about 1% Friday and are down 5% in 2018, while the S&P 500 has gained almost 10%.
Floodwaters have overwhelmed an ash basin at a Duke Energy Corp. power plant in North Carolina, spilling a byproduct of burning coal into the Cape Fear River. The company said coal ash at the site “remains in place” but that tiny beads called cenospheres are flowing into the river. The hollow beads, left over from burning coal, are comprised of alumina and silica, Duke said in a statement Friday.
activated a high-level emergency alert at a retired coal-fired power plant because of rising floodwaters from Hurricane Florence possibly breaching a dam nearby, the company said the dam has, in fact, been breached and coal ash could be flowing into nearby Cape Fear River. Duke Energy has shut down the 625-megawatt natural gas plant at the site. North Carolina's Department of Energy Mineral and Land Resources didn't return a request for comment on the situation.
As of September 20, Reuters has compiled data from 19 analysts tracking Duke Energy (DUK) stock. Two of them have recommended a “strong buy,” and five have rated it a “buy.” One analyst has recommended a “sell.” The rest of them have recommended a “hold.”