80.02 -0.11 (-0.14%)
After hours: 5:18PM EDT
|Bid||80.03 x 800|
|Ask||80.68 x 900|
|Day's Range||79.71 - 80.85|
|52 Week Range||71.96 - 91.80|
|Beta (3Y Monthly)||-0.07|
|PE Ratio (TTM)||20.27|
|Earnings Date||Nov 2, 2018|
|Forward Dividend & Yield||3.71 (4.64%)|
|1y Target Est||84.81|
NextEra Energy (NEE), the biggest component in the Utilities Select Sector SPDR ETF (XLU), is currently trading at a forward PE multiple of 21x based on its estimated EPS for 2019. Its forward PE multiple is higher than its five-year historical average PE multiple of ~20x. Thus, the stock looks expensive considering its historical average as well as its 8% estimated earnings growth in 2019.
The sell-off in utilities (IDU) last week pulled them below their 50-day moving averages, which indicates a renewed weakness. The Utilities Select Sector SPDR ETF (XLU) is currently trading 1% below its 50-day moving average and 3% above its 200-day moving average. Its 200-day moving average of $51.22 will likely act as a support for XLU in the short term. XLU closed at $52.95 on October 12.
After a fairly positive start, utilities tumbled later last week and closed 1.3% lower. In comparison, the broader markets lost ~4% during the week. The sell-off last week pushed the S&P 500 to a three-month low after fresh trade war tensions weighed mainly on the technology and industrial sectors. The defensives such as utilities fared better as investors turned to safe-haven options, given their higher yields and stable price movements.
The major stock indexes took a pummeling last week over fears that interest rates are rising too quickly. Surprisingly, the utilities sector, which typically moves lower when interest rates rise due to higher funding costs, has outperformed the broader market in October 2018. While the Standard and Poor's 500 index (S&P 500) is down 5% so far this month, the Vanguard Utilities ETF ( VPU) – the poster child of U.S. utilities exchange-traded funds (ETFs) – is trading flat to slightly higher over the same period, and the ETF is up 6.14% over the past three months.
GREENVILLE, S.C., Oct. 15, 2018 /PRNewswire/ -- Duke Energy has proposed a new program to expand renewable energy options for its commercial and industrial customers in South Carolina. The proposed Green Source Advantage program will provide large nonresidential customers the option to secure significant amounts of solar or other renewable energy to satisfy their sustainability or other clean energy goals.
ST. PETERSBURG, Fla. , Oct. 14, 2018 /PRNewswire/ -- About 4,000 repair workers today continued to restore power to Duke Energy customers on the Florida Panhandle following Hurricane Michael. About 14,800 ...
CHARLOTTE, N.C., Oct. 14, 2018 /PRNewswire/ -- An army of more than 10,000 repair workers today continued to restore power to Duke Energy's customers in the Carolinas following Tropical Storm Michael. Duke Energy expects to restore power to most of the remaining customers, whose properties can receive power, by 11:45 p.m., Tuesday, Oct. 16. Crews have repaired more than 1 million power outages since the destructive storm raced through the Carolinas on Thursday.
CHARLOTTE, N.C., Oct. 13, 2018 /PRNewswire/ -- About 1.1 million customers in the Carolinas were affected by power outages from Tropical Storm Michael. "We have more than 10,000 people working to restore power," said Duke Energy Storm Director Rufus Jackson. The Triad area of North Carolina took the toughest blow from Tropical Storm Michael, with Guilford, Rockingham, Alamance and Caswell counties among the hardest hit.
ST. PETERSBURG, Fla., Oct. 13, 2018 /PRNewswire/ -- Duke Energy continues to update restoration times for the 20,000 remaining customers without power in the Florida Panhandle. Affected customers can access an online map that will give real-time information as restoration times are updated. The hurricane damaged numerous electric transmission and distribution facilities, including substations, utility poles, power lines and other key system components – all of which will need to be repaired or replaced before power can be restored to individual customers.
ST. PETERSBURG, Fla., Oct. 12, 2018 /PRNewswire/ -- Duke Energy tonight provided additional information about power restoration for Florida customers impacted by Hurricane Michael. The hurricane damaged numerous electric transmission and distribution facilities, including substations, utility poles, power lines and other key system components – all of which will need to be repaired or replaced before power can be restored to individual customers. Below are power restoration details by geographical zone.
CHARLOTTE, N.C. , Oct. 12, 2018 /PRNewswire/ -- Duke Energy today provided information about power restoration for North Carolina and South Carolina customers impacted by Tropical Storm Michael. Damage ...
NextEra Energy (NEE) and Dominion Energy (D) are among the fastest growing utilities. Both of the utilities aim to grow their earnings ~7% annually, while broader utilities are expected to grow ~4% for the next few years. Their superior earnings growth will likely fuel above-average dividend growth as well.
- 490,000 customers remain without power as of 6:30 p.m. ET. - More outages likely as storm rolls through eastern North Carolina CHARLOTTE, N.C. , Oct. 11, 2018 /PRNewswire/ -- Duke Energy has restored ...
Duke Energy (DUK) plans to invest $500 million in its battery energy storage projects that come with an electricity generation capacity of 300 megawatts (MW).
ST. PETERSBURG, Fla., Oct. 11, 2018 /PRNewswire/ -- Duke Energy crews today are using helicopters, drones, boats, trucks and foot patrols to assess catastrophic damage to parts of the company's electric system on the Florida Panhandle in the wake of powerful Hurricane Michael. Eighty percent or more of Duke Energy's customers in Bay, Franklin, Gulf, Jefferson and Wakulla counties lost power Wednesday as the storm roared on shore as a category 4 hurricane – packing winds of 155 mph and a historic storm surge that demolished or severely damaged thousands of homes, businesses and other structures. An estimated total of 31,000 Duke Energy Florida customers lost power due to the hurricane.
The Florida National Guard has deployed 3,500 members for search-and-rescue and humanitarian aid, with assistance from National Guard units from as far away as New York and Kansas.
Despite the lower yield, NextEra Energy’s (NEE) dividend profile looks attractive, mainly due to its dividend growth. In the last five years, the company has increased its dividends more than 10% compounded annually. Utilities (XLU) at large increased their dividends ~4% compounded annually during the same period.
Duke Energy Corp. has 6,000 workers — including line technicians, damage assessors and tree specialists — staged in the state to respond to the storm’s impact.
Utilities generally offer superior dividend yields compared to broader markets. Currently, utilities (XLU) yield ~3.5%, which is a yield premium of ~170 basis points over broader markets and just 20–30 basis points over ten-year Treasury yields. The yield premium to benchmark Treasury yields fell from ~150–200 basis points early this year. The recent strength in Treasury yields could be negative for utilities.
CHARLOTTE, N.C., Oct. 10, 2018 /PRNewswire/ -- Duke Energy projects Hurricane Michael could cause 300,000 to 500,000 power outages in North Carolina and South Carolina this week, based on the storm's current forecasted track. The power outage projections are based on the company's storm modeling tool, which analyzes variables including storm magnitude and track, wind speed, size of the wind field and ground saturation. Historical data and company experience indicate complete power restoration from a storm of this magnitude could take several days – depending on the extent of damage, crews' ability to access remote areas, and conditions such as flooding after the storm.
Duke Energy Corp. said Michael may trigger outages, some lasting for several days, in North Carolina and South Carolina. In Florida, the Charlotte-based company is warning that as many as 200,000 customers in the panhandle could lose power, potentially for “multiple days to over a week,” according to a statement Tuesday. Southern Co.’s Gulf Power utility said it expects the worst from Michael in Panama City and warned customers to prepare for “tropical storm-force winds, which could lead to prolonged, widespread outages,” according to a statement Tuesday.
Hurricane Michael hits Florida today with winds as high a 140 miles per hour and moves into the Carolinas by Thursday, causing power outages across Duke Energy utilities in those states.
CHARLOTTE, N.C., Oct. 10, 2018 /PRNewswire/ -- Duke Energy's advancement of battery energy storage technologies in the Carolinas includes $500 million of projects in the company's 15-year forecast – continuing the company's industry-leading deployment of the technology. "Duke Energy is at the forefront of battery energy storage, and our investment could increase as we identify projects that deliver benefits to our customers," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology.
NEW YORK, Oct. 10, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Duke Energy Florida President Catherine Stempien on the impact of Hurricane Michael and efforts to improve the electrical grid in Florida.