Duke Energy 4Q Earnings Exceed Expectations
Earlier this month Duke announced it would close the crippled Crystal River nuclear station in Florida rather than spend as much as $3.4 billion to try to repair it. The plant, acquired in the Progress deal, has been shut since 2009 when part of its structure cracked during maintenance.
"They've done a good job of accomplishing a lot of things we were hoping they would," said Andy Smith, an analyst at Edward Jones who called the company's performance in the quarter "solid." He says the company is now poised to perform well over the long term.
"We've had a lot of issues to deal with," Rogers said in an interview Wednesday. "But now we're positioned to harvest savings, to change our cost structure, and get prepared for the future."
Follow Jonathan Fahey on Twitter at http://twitter.com/JonathanFahey .
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts