Electric and gas utility operator Duke Energy Corporation ( DUK ) on Tuesday said it reversed a year-ago loss and saw better-than-expected second quarter earnings.
The Charlotte, NC-based company reported second quarter net income of $435 million, or 33 cents per share, compared with a net loss of $222 million, or -17 cents per share, in the year-ago period.
Revenue rose more than 7% from last year to $3.53 billion.
On average, Wall Street analysts expected a smaller profit of 31 cents per share, on lower revenue of $3.31 billion.
Looking ahead, the company it still expects full-year earnings to range from $1.35 to $1.40 per share, which straddles analyst estimates for $1.37 per share.
Duke Energy shares rose 14 cents, or +0.8%, in premarket trading Tuesday.
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 5.35% dividend yield, based on last night's closing stock price of $18.70.
Duke Energy Corporation ( DUK ) is a "Highly Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.8 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Created by Dividend.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
