UBS Maintains a 'Neutral' on Duke Energy (DUK); More Storm Clouds in Indiana
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Price: $123.92 +0.42%
Rating Summary:
16 Buy, 17 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 17 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on Duke Energy (NYSE: DUK) price target raised $1 to $21.
UBS analyst says, "Former IURC Chairman Hardy indicted...What it means, near-term? In our view, the indictment means DUK will face even more scrutiny in its pending Edwardsport cost recovery petition. The IURC in Oct overturned what we viewed as a de minimis $12MM storm deferral that occurred under Hardy’s (and Storms’) watch. At issue is the amount that will ultimately be eligible for rate recovery and is somewhere between the original cost estimate of $1.9B and the $3.0B current cost estimate. (DUK has a cap proposal of $2.72B before the IURC.) The IURC is unlikely to rule on this matter until 1Q-12."
"DUK's pending merger with Progress (NYSE: PGN) continues to progress. On Thursday, the FERC will consider the revised merger petition the company’s submitted. If approved, the only remaining approval is from the Carolinas."
For an analyst ratings summary and ratings history on Duke Energy click here. For more ratings news on Duke Energy click here.
Shares of Duke Energy closed at $20.61 yesterday.
UBS analyst says, "Former IURC Chairman Hardy indicted...What it means, near-term? In our view, the indictment means DUK will face even more scrutiny in its pending Edwardsport cost recovery petition. The IURC in Oct overturned what we viewed as a de minimis $12MM storm deferral that occurred under Hardy’s (and Storms’) watch. At issue is the amount that will ultimately be eligible for rate recovery and is somewhere between the original cost estimate of $1.9B and the $3.0B current cost estimate. (DUK has a cap proposal of $2.72B before the IURC.) The IURC is unlikely to rule on this matter until 1Q-12."
"DUK's pending merger with Progress (NYSE: PGN) continues to progress. On Thursday, the FERC will consider the revised merger petition the company’s submitted. If approved, the only remaining approval is from the Carolinas."
For an analyst ratings summary and ratings history on Duke Energy click here. For more ratings news on Duke Energy click here.
Shares of Duke Energy closed at $20.61 yesterday.
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