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Investing

Duke Energy’s (DUK) Guidance & Updates

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By Douglas A. McIntyre Published
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By Yaser Anwar, CSC of Equity Investment IdeasDUK reported 3Q EPS of $0.45 vs The Street’s $0.56. Disappointing results point to moderately lower earnings, but from a long-term view the firm’s prospects remain bullish.Guidance and Updates on behalf of the management:• 06 incentive target is now $1.86, including $0.04 of foregone CMT earnings• 07’s EPS goal of $2.00 now looks too high. New, detailed guidance on ’07 will be revealed during the early December roadshow.• The Board of Directors approved a buyback program of up to $500M beginning on Jan of 07. A program will be put in place such that purchases will take place if the stock hits predetermined price points.• GasCo to be renamed Spectra (SE). The Board is recommending the issuance of one Spectra share for every two Duke shares. This implies a $0.84/share dividend for Duke Energy and $0.88/share for Spectra.• Duke Energy’s EPS growth guidance was affirmed at 4-6% over three years, with Spectra growing at 5-7% over the same period.http://www.equityinvestmentideas.blogspot.com/

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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