NEW YORK (TheStreet) -- Duke Energy Corp. (DUK - Get Report) stock is up by 2.59% to $77.25 on heavy trading volume on Monday afternoon, after the company announced it will sell solar energy to Lockheed Martin's (LMT) domestic business segments.
The Charlotte-based energy company's Renewables division will provide Lockheed Martin, an aerospace company based in Bethesda, with solar energy for 17 years, the companies said in a statement on Monday.
Duke Energy expects to provide Lockheed with 72,000 megawatt hours per year of solar energy. The terms of the deal were not disclosed.
In December, Corning (GLW) also signed a 25-year solar energy agreement with Duke Energy Renewables.
So far today, 4.83 million shares of Duke Energy have traded, versus the company's 30-day average of 3.09 million shares.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of A-. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and growth in earnings per share. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: DUKDUK data by YCharts