Power Stocks: Duke, Constellation

NEW YORK (TheStreet) -- A collage of electricity players reported quarterly earnings on Friday. To recap:

With lower electricity sales in a sluggish economy as the backdrop, Charlotte, N.C.-based electricity provider Duke Energy(DUK Quote) beat estimates in reporting adjusted profit at 40 cents a share. The company also noted that "industrial sales volumes continued to show signs of stabilization" and bettered on a sequential basis. That sum excludes items, including $400 million in impairment charges mostly related to power operations in the Midwest. During last year's third-quarter, Duke produced adjusted earnings at 33 cents a share. Shares closed lower by 29 cents at $15.82 in the afternoon.

After adjusting for certain items, Dominion Resources(D Quote) also beat the consensus in posting earnings at 99 cents a share versus 94 cents in the year-earlier quarter. CEO Thomas Farrell noted in a statement that Dominion's "core businesses continued to deliver strong operating earnings results this quarter despite unfavorable weather in our electric service territory." Still, revenue dropped 16% from last year. Dominion shares were losing ground by 44 cents at $34.19.

Constellation Energy(CEG Quote) shares were trading down in the afternoon, after the Baltimore, M.d.-based utility swung to a 69-cent per share profit compared to a loss at $1.27 a share last year. Excluding items brought adjusted earnings to $1.23 a share, beating profit forecasts, though the top-line fell by 24% from the year-earlier report. Shares were bidding lower on Friday, shedding 21 cents to finish at $30.92. --Written by Sung Moss in New York

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