DUKE ENERGY CORPORATION

(DUK)
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Delayed Nyse  -  04:03 2022-06-24 pm EDT
104.53 USD   +1.08%
06/23Morgan Stanley Adjusts Duke Energy Price Target to $107 From $119, Maintains Equal Weight Rating
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06/21DUKE ENERGY : serves customers, sets records in the Carolinas last week through record heat and extreme weather events
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06/16Duke Energy Progress submits annual update for fuel, renewable energy, energy efficiency program charges in North Carolina
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Duke Energy Files Proposed Carolinas Carbon Plan

05/16/2022 | 03:46pm EDT

By Stephen Nakrosis


Duke Energy Corp. on Monday said it filed its proposed Carolinas Carbon Plan with the North Carolina Utilities Commission.

Duke said under the proposed plan, the company will achieve 70% carbon dioxide emissions reduction by 2030 and carbon neutrality by 2050.

Customers would see "minimal costs from carbon plan implementation over the next two years," Duke said. "Depending upon the portfolio, the average annual bill impact from the plan is projected to range from about 1.9% to 2.7% each year through 2035," according to the company.

Duke said under the plan calls for over three times the current level of solar, diversification of renewables with wind resources and significant growth in energy storage by 2035.

The company also said it has retired two-thirds of its coal plants in the Carolinas, and plans to use a mix of "solar, storage, natural gas, wind and small modular nuclear generation, as well as energy efficiency programs and other measures to help customers reduce their energy use," as it works to retire the remaining plants. Duke said since 2010, it retired 7,500 megawatts of coal and is targeting a full exit by 2035

Over 500 individuals representing more than 300 organizations from both North and South Carolina participated in the company's stakeholder engagement process between January and March, Duke said.

In its 2021 ESG summary, Duke said it has already reduced Scope 1 carbon emissions by 44% since 2005. The company also said it "developed a Sustainable Financing Framework to help fund investments in eligible green and social projects, while providing greater transparency around our investments and priorities."


Write to Stephen Nakrosis at stephen.nakrosis@wsj.com


(END) Dow Jones Newswires

05-16-22 1746ET

Stocks mentioned in the article
ChangeLast1st jan.
DUKE ENERGY CORPORATION 1.08% 104.53 Delayed Quote.-0.35%
S&P GSCI NATURAL GAS INDEX -0.03% 294.0819 Real-time Quote.68.39%
WTI 3.07% 107.53 Delayed Quote.38.53%
All news about DUKE ENERGY CORPORATION
06/23Morgan Stanley Adjusts Duke Energy Price Target to $107 From $119, Maintains Equal Weig..
MT
06/21DUKE ENERGY : serves customers, sets records in the Carolinas last week through record hea..
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06/16Duke Energy Progress submits annual update for fuel, renewable energy, energy efficienc..
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06/15Duke Energy Carolinas customers set summertime record for electricity use
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06/15DUKE ENERGY : crews restore power to 221,000 Ohio, Kentucky customers following severe sto..
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06/15DUKE ENERGY CORP : Other Events, Financial Statements and Exhibits (form 8-K)
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06/14DUKE ENERGY : crews continue working to restore power to nearly 80,000 customers and asses..
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06/13Duke Energy Florida connects customers to cleaner energy options with completion of fir..
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06/10Duke Energy Completes Florida Community Solar Site
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06/10Duke Energy Florida connects customers to cleaner energy options with completion of fir..
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Financials (USD)
Sales 2022 26 585 M - -
Net income 2022 4 126 M - -
Net Debt 2022 70 974 M - -
P/E ratio 2022 19,4x
Yield 2022 3,83%
Capitalization 80 478 M 80 478 M -
EV / Sales 2022 5,70x
EV / Sales 2023 5,74x
Nbr of Employees 27 605
Free-Float 95,0%
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 104,53 $
Average target price 114,72 $
Spread / Average Target 9,75%
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Managers and Directors
Lynn J. Good Chairman, President & Chief Executive Officer
Steven K. Young Chief Financial Officer & Executive Vice President
Bonnie Titone Chief Information Officer
Dhiaa M. Jamil Chief Operating Officer & Executive Vice President
Melissa Feldmeier Chief Ethics & Compliance Officer, Vice President
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