| Duke Energy Concludes Accelerated Stock Repurchases - Analyst Blog | |
| | |
|
Duke Energy Corp. DUK has completed its accelerated stock repurchase program, worth $1.5 billion, from Goldman, Sachs & Co. and JPMorgan Chase Bank. The buyback was made from the $2.8 billion proceeds of its Midwest merchant fleet sale.
The company had stated its intention of repurchasing shares on Apr 2, 2015, when it declared the completion of the sale of its non-regulated Midwest Commercial Generation business to Dynegy Inc. DYN.
With this buyback, Duke Energy has now retired a total of 19.8 million shares from Goldman, Sachs & Co. and JPMorgan Chase Bank. Of the total, 16.6 million shares were retired when the accelerated repurchase program was announced on Apr 2 and 3.2 million more shares have been retired with the current completion.
The company had planned to use the remaining proceeds in reducing its long-term debt. It intends to stay focused on maintaining its strong financials as well as adding value to shareholders through immediate return of capital.
Duke Energy is a premier utility service provider offering efficient power and energy services across various states in the U.S. and several other international locations. It also has a stable dividend payment history distributing a quarterly cash dividend for 88 consecutive years. The company has continued to increase its quarterly dividend rate every year since Jan 2007 after the spin-off of Spectra Energy on the strength of its financials. In Dec 2014, Duke Energy paid an increased quarterly cash dividend of 79.5 cents per share. The company achieved its long-term dividend payout ratio in the range of 65% to 70% of its adjusted diluted earnings in 2014.
Duke Energy also invests its funds in growth projects. The company expects to invest about $4 billion to $5 billion annually in growth projects in the regulated business. It has plans to make capital investment of $7.4 billion in 2015, $9.4 billion in 2016 and $7.8 billion in 2017. These investments will help the company to achieve its targeted earnings growth rate of 4% to 6% through 2017.
Duke Energy presently holds a Zacks Rank #3 (Hold). However, better-ranked stocks in the same industry include CMS Energy Corp. CMS and DTE Energy Company DTE, both carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CMS ENERGY (CMS): Free Stock Analysis Report DYNEGY INC-NEW (DYN): Free Stock Analysis Report DUKE ENERGY CP (DUK): Free Stock Analysis Report DTE ENERGY CO (DTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
|
|
|
Duke Energy
|
|
|
CODE : DUK |
ISIN : US26441C2044 |
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Duke Energy est une société de production minière et de pétrole basée aux Etats-Unis D'Amerique. Duke Energy est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 80,6 milliards US$ (72,5 milliards €). La valeur de son action a atteint son plus bas niveau récent le 02 mai 2003 à 10,00 US$, et son plus haut niveau récent le 19 septembre 2024 à 115,14 US$. Duke Energy possède 700 299 523 actions en circulation. |