Duke Energy Restores Power After Winter Storm
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: Newsfilter
- Power Restoration Progress: As of 2 PM on January 26, Duke Energy has restored power to over 131,000 customers, although nearly 22,000 remain without service due to the winter storm, with most outages expected to be resolved the same day, demonstrating the company's rapid response capabilities in extreme weather situations.
- Customer Service Alert: Duke Energy warns customers about a text message scam targeting utility customers that mentions false power outages and includes a link, emphasizing that the company did not send such messages, aimed at protecting customers from potential cybersecurity threats.
- Energy Use Management: With cold weather persisting, Duke Energy advises customers to implement small changes like adjusting thermostat settings and checking air filters to reduce energy consumption and lower bills, reflecting the company's commitment to enhancing customer energy efficiency awareness.
- Company Background Information: Duke Energy, one of America's largest energy holding companies, serves approximately 4.7 million electric customers and is making significant investments in grid upgrades and clean energy transitions, showcasing its leadership in the energy sector and commitment to sustainability.
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Analyst Views on DUK
Wall Street analysts forecast DUK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DUK is 136.31 USD with a low forecast of 126.00 USD and a high forecast of 150.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
8 Buy
5 Hold
0 Sell
Moderate Buy
Current: 120.240
Low
126.00
Averages
136.31
High
150.00
Current: 120.240
Low
126.00
Averages
136.31
High
150.00
About DUK
Duke Energy Corporation is an energy holding company. The Company operates through two segments: Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I). The EU&I segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio. EU&I provides retail electric service through the generation, transmission, distribution, and sale of electricity to customers within the Southeast and Midwest regions of the United States. The GU&I segment conducts natural gas operations primarily through the regulated public utilities of Piedmont, Duke Energy Ohio, and Duke Energy Kentucky. GU&I serves residential, commercial, industrial, and power generation natural gas customers, including customers served by municipalities who are wholesale customers. It also purchases a diverse portfolio of transportation and storage services from interstate pipelines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Duke Energy Restores Power to 131,000 Customers After Winter Storm
- Power Restoration Progress: As of 2 PM on January 26, Duke Energy has restored power to over 131,000 customers, although nearly 22,000 remain without service, highlighting the company's efforts and challenges in responding to Winter Storm Fern.
- Customer Service Commitment: Duke Energy is on track to restore most outages by tonight, but some customers in severely affected areas along the Blue Ridge Escarpment may not have service restored until Tuesday, reflecting the company's emergency response capabilities during extreme weather.
- Energy Efficiency Recommendations: With cold weather persisting, Duke Energy is advising customers to make small adjustments like lowering thermostat settings and checking air filters to reduce energy consumption and mitigate high bills, demonstrating the company's concern for customers' financial burdens.
- Energy Transition Strategy: Duke Energy is executing major electric grid upgrades and investing in cleaner energy sources, aiming to build a smarter energy future while ensuring customer reliability and value, showcasing the company's foresight and responsibility in the energy transition.
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Prolonged Cold Weather Increases Energy Use in the Carolinas
- Cold Weather Impact: The Carolinas are experiencing unusually cold weather with temperatures 10 to 20 degrees Fahrenheit below normal, leading to a significant increase in home energy use and higher electricity bills.
- Heating System Strain: The prolonged low temperatures require heating systems to run longer, which is the primary driver of increased energy consumption, resulting in higher costs for customers.
- Energy Saving Tips: Duke Energy is sharing practical energy-saving measures and flexible payment options to help customers manage their energy costs during this cold stretch, alleviating financial pressure.
- Company Overview: Duke Energy, one of America's largest energy holding companies, serves 8.6 million customers and owns 55,100 megawatts of energy capacity, actively investing in major grid upgrades and a transition to cleaner energy sources.
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