Electric power utility operator Duke Energy Corporation (DUK) on Friday said its first quarter earnings took a hit due to warm weather and some one-time costs, but adjusted results were better than analysts had expected.
The Charlotte, NC-based company reported first quarter net income of $295 million, or 22 cents per share, compared with $511 million, or 38 cents per share, in the year-ago period. Excluding special items, adjusted profit was 38 cents per share.
On average, Wall Street analysts expected a smaller profit of 36 cents per share.
Looking ahead, DUK said it still expects full-year earnings of $1.40 to $1.45 per share, while analysts forecast $1.43 per share for the year.
Duke Energy shares were mostly flat in premarket trading Friday.
The Bottom Line
We have been recommending shares of Duke Energy (DUK) since Dec.1, 2009, when the stock was trading at $16.68. The company has a 4.67% dividend yield, based on last night’s closing stock price of $21.40.
Duke Energy Corporation (DUK) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.
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