Markets

Duke Energy’s Adjusted Q4 Profit Misses, but 2011 Forecast Beats (DUK)

Electric and gas utility operator Duke Energy Corporation ( DUK ) on Thursday said its fourth quarter profit surged 23% from last year on higher revenue.

The Charlotte, NC-based company reported fourth quarter net income of $427 million, or 32 cents per share, compared with $346 million, or 26 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 21 cents per share.

Revenue rose 11% from last year to $3.45 billion.

On average, Wall Street analysts expected a higher adjusted profit of 23 cents per share, albeit on lower revenue of $3.15 billion.

Looking ahead, the company forecast full-year 2011 earnings to range from $1.35 to $1.40 per share, which would beat analysts' current estimates of $1.33 per share.

Duke Energy shares rose 53 cents, or +3%, in premarket trading Thursday.

The Bottom Line

We have been recommending Duke Energy ( DUK ) since Dec.1, 2009, when the stock was trading at $16.68. The company has a 5.54% dividend yield, based on last night's closing stock price of $17.70.

Duke Energy Corporation ( DUK ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 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.

In This Story

DUK

Other Topics

Stocks