NEW YORK (TheStreet) -- Shares of Duke Energy Corp (DUK) are up 2.41% to $71.52 in early market trading following the company's strong second quarter earnings, highlighted by an 80% jump in profit due to favorable weather and a lower tax rate.
The energy company reported second quarter earnings of $609 million, or 86 cents a share, compared with $339 million, or 48 cents a share in the same quarter of 2013.
Adjusted earnings per share were $1.11, higher than the 87 cents per share from a year ago, and beating the 98 cents per share estimate by analysts at Thomson Reuters.
Must Read: Warren Buffett's 25 Favorite Stocks
Duke Energy raised its adjusted earnings guidance range for the full year to $4.50 to $4.65 from $4.45 to $4.60.
Separately, TheStreet Ratings team rates DUKE ENERGY CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: "We rate DUKE ENERGY CORP (DUK) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
- You can view the full analysis from the report here: DUK Ratings Report
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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