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Duke Energy Swings to Q2 Profit, Beating View (DUK)

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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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