Latest news with #HarrySideris
Yahoo
4 days ago
- Business
- Yahoo
Duke Energy secures $6bn investment from Brookfield for Florida operations
Duke Energy has signed a definitive agreement with Brookfield Asset Management, wherein the latter will acquire a 19.7% indirect equity interest in Duke Energy Florida for $6bn. This all-cash transaction will enhance Duke Energy's financial stability and support its energy modernisation strategy. Duke Energy will allocate $2bn of the proceeds from the deal towards its five-year capital plan, now estimated at $87bn. The remaining proceeds, amounting to $4bn, are earmarked for reducing the holding company's corporate-level debt. Brookfield's investment will be channelled through Florida Progress, the parent entity owning all of Duke Energy Florida. The acquisition will occur in phases, with Florida Progress receiving $2.8bn at the initial closing, anticipated in early 2026, followed by $200m by the end of that year. An additional $2bn is expected in 2027, with the final $1bn due in 2028. Brookfield retains the option to expedite the full $6bn investment. Duke Energy will retain majority control with an 80.3% interest and continue managing operations at Duke Energy Florida. Duke Energy president and CEO Harry Sideris said: 'We are pleased to have Brookfield, a highly regarded infrastructure investor, as a long-term partner in Duke Energy Florida. This significant transaction at a compelling valuation best positions Duke Energy to unlock additional capital investments in Duke Energy Florida during this unprecedented growth period. 'It also materially strengthens Duke Energy's overall credit profile, which in turn enables us to invest in our energy modernisation plans across our entire footprint – all while helping keep prices as low as possible for our customers.' The additional funds from this transaction will help increase investments in the state to more than $16bn by 2029. The completion of this transaction is contingent upon regulatory approvals from various federal bodies including the Federal Energy Regulatory Commission and the Committee on Foreign Investment in the US, and a review by the Nuclear Regulatory Commission. Brookfield infrastructure group CEO Sam Pollock said: 'We are delighted to partner with Duke Energy in a critical business and premier regulated utility like Duke Energy Florida through Brookfield's Super-Core Infrastructure strategy. 'We look forward to supporting the continued growth of Duke Energy Florida's regulated asset base and, accordingly, ensuring excellent service delivery for its customers.' JP Morgan Securities is acting as financial advisor to Duke Energy, while Skadden, Arps, Slate, Meagher & Flom is serving as legal advisor. RBC Capital Markets and Kirkland & Ellis are providing financial and legal advisory services, respectively, to Brookfield. In February 2025, Duke Energy Florida announced plans to develop four new solar energy sites, which will contribute an additional 300MW of capacity to the electric grid. The company has also submitted its 2025 Solar Base Rate Adjustment proposal to the Florida Public Service Commission. "Duke Energy secures $6bn investment from Brookfield for Florida operations" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Duke Energy reports second-quarter 2025 financial results
CHARLOTTE, N.C., Aug. 5, 2025 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its second-quarter 2025 financial results in a news release available on the company's website at the following link: Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section ( of Duke Energy's website or by dialing 833.470.1428 in the U.S. or 929.526.1599 outside the U.S. The confirmation code is 704713. Please call in 10 to 15 minutes prior to the scheduled start time. A recording of the webcast will be available on the investors' section of the company's website on Aug. 6. Duke Energy Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. Media Contact: Gillian Moore24-Hour: 800.559.3853 Analysts Contact: Abby MotsingerOffice: 704.382.7624 View original content to download multimedia: SOURCE Duke Energy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Business
- Yahoo
Duke Energy reports first-quarter 2025 financial results
CHARLOTTE, N.C., May 6, 2025 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its first-quarter 2025 financial results in a news release available on the company's website at the following link: Duke Energy logo (PRNewsfoto/Duke Energy) Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section ( of Duke Energy's website or by dialing 833.470.1428 in the U.S. or 929.526.1599 outside the U.S. The confirmation code is 197083. Please call in 10 to 15 minutes prior to the scheduled start time. A recording of the webcast will be available on the investors' section of the company's website on May 7. Duke Energy Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. Media Contact: Gillian Moore 24-Hour: 800.559.3853 Analysts Contact: Abby Motsinger Office: 704.382.7624 Cision View original content to download multimedia: SOURCE Duke Energy
Yahoo
05-05-2025
- Business
- Yahoo
Here's How You Can Earn $100 In Passive Income By Investing In Duke Energy Stock
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Duke Energy Corp. (NYSE:DUK) is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. It will report its Q1 2025 earnings on May 6. Wall Street analysts expect the company to post EPS of $1.54, up from $1.44 in the prior-year period. According to data from Benzinga Pro, quarterly revenue is expected to be $7.79 billion, up from $7.67 billion a year earlier. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — The 52-week range of Duke Energy stock price was $97.49 to $125.27. Duke Energy's dividend yield is 3.43%. It paid $4.18 per share in dividends during the last 12 months. On Feb. 13, the company announced its Q4 2024 earnings, posting adjusted EPS of $1.66, in line with the consensus estimates, as reported by Benzinga. Revenues of $7.36 billion exceeded the consensus of $7.33 billion. 'Duke Energy enters 2025 in a position of strength, and I'm excited about the future with Harry Sideris as its next CEO. Under his leadership, Duke Energy is well positioned to execute the next phase of our business strategy,' said CEO Lynn Good. Duke Energy reaffirmed its full-year 2025 outlook, expecting adjusted EPS in the range of $6.17 to $6.42, compared to the consensus of $6.33. Trending: Donald Trump Just Announced a $500 Billion AI Infrastructure Deal — Here's How You Can If you want to make $100 per month — $1,200 annually — from Duke Energy dividends, your investment value needs to be approximately $34,985, which is around 287 shares at $122.02 each. Understanding the dividend yield calculations: When making an estimate, you need two key variables — the desired annual income ($1,200) and the dividend yield (3.43% in this case). So, $1,200 / 0.0343 = $34,985 to generate an income of $100 per month. You can calculate the dividend yield by dividing the annual dividend payments by the current price of the stock. The dividend yield can change over time. This is the outcome of fluctuating stock prices and dividend payments on a rolling instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40). In summary, income-focused investors may find Duke Energy stock an attractive option for making a steady income of $100 per month by owning 287 shares of stock. There may be more upside to come as investors benefit from the company's consistent dividend hikes. Duke Energy has raised its dividend consecutively for the last 17 years. Check out this article by Benzinga for three more stocks offering high dividend yields. Real estate is a great way to diversify your portfolio and earn high returns, but it can also be a big hassle. Luckily, there are other ways to tap into the power of real estate without owning property. Arrived Home's Private Credit Fund's has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate. The best part? Unlike other private credit funds, Looking for fractional real estate investment opportunities? The features the latest offerings. Image: Shutterstock Send To MSN: 0 This article Here's How You Can Earn $100 In Passive Income By Investing In Duke Energy Stock originally appeared on Sign in to access your portfolio
Yahoo
25-04-2025
- Business
- Yahoo
Duke Energy to procure up to 11 GE Vernova natural gas turbines
GE Vernova has agreed to supply Duke Energy with 11 US-produced natural gas turbines. The collaboration is intended to address growing electricity demand from the manufacturing sector, digital infrastructure and population expansion. Duke Energy president and CEO Harry Sideris said: 'As we continue to experience unprecedented growth in our service territories, securing the necessary materials to build critical infrastructure and meet the energy demand is integral to delivering value for our customers and other stakeholders. 'We value our collaboration with forward-thinking partners who assist us in advancing our energy modernisation strategy.' The agreement covers the potential deployment of up to 11 7HA gas turbines, in alignment with Duke Energy's resource development strategies. These turbines are expected to enhance energy infrastructure and improve network stability. The initiative will support Duke's ability to manage rising power demands efficiently. This development is in addition to eight 7HA gas turbines the company has already acquired. It aligns with Duke Energy's long-term strategy to ensure energy dependability and cost control for its customers. The expanded turbine portfolio will help accommodate various projected growth scenarios. The deal is supported by GE Vernova's earlier decision to scale up its Greenville, South Carolina facility. This manufacturing expansion is designed to meet growing turbine orders from both existing and future customers. The Greenville upgrade forms part of a broader $600m investment plan for manufacturing within the US. Of that, nearly $300m is directed towards GE Vernova's Gas Power operations. The funding will be used to modernise manufacturing workflows and increase output efficiency. Legacy production methods at the facility will be replaced by streamlined lean manufacturing systems. This shift is anticipated to enhance supplier capacity and generate more than 1,500 new positions nationwide. The changes are aimed at supporting a more agile and scalable production model. Deploying the turbines at Duke Energy sites will allow the company to leverage existing infrastructure. Utilisation of current transmission systems is expected to help control costs and speed up implementation. GE Vernova CEO Scott Strazik said: 'This arrangement with Duke Energy and the significant expansion of our US manufacturing facilities illustrate our ability and commitment to developing innovative solutions that our customers require to meet today and tomorrow's energy demands. 'We are proud to be able to supply these Greenville, SC, manufactured gas turbines to a leading US energy company and service to its consumers.' "Duke Energy to procure up to 11 GE Vernova natural gas turbines" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
