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Duke Energy (DUK) Selects 6 Sites for Readiness Program
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Duke Energy (DUK - Free Report) announced that six properties in North Carolina will participate in the first half of its 2017 Site Readiness Program. These properties will be prepared for business and industrial development.
About Site Readiness Program
The program was started by Duke Energy in North Carolina in 2005 and since then it has invested $3.3 billion in this project creating over 2400 jobs. With the help of this program the prepared sites in the state have already won 11 major projects.
The sites selected for development this time include a 200-acre tract in Newlin Farm Site of Haw River for heavy power and water infrastructure, a 290-acre tract in Chatham-Siler City Advanced Manufacturing Site to serve as a supplier park or commercial support park to any nearby larger project, 79-acre Craven County-owned site and 532-acre property at 401 North Site for industrial use, 278-acre Watson Farm site in Franklin County for industrial development and 278-acre Roberts and Wellons site in Johnston County to accommodate biotech manufacturing facilities..
Each of these sites is eligible to apply for a $10,000 matching grant from the company which will help in preparations.
Growth Through Investments
In addition to such site readiness program, Duke Energy boasts a robust five-year capital plan worth $37 billion in growth projects over the 2017-2021 time frame. The company has a history of heavy investment in infrastructure and expansion projects. Segment wise, it expects to spend about $30 billion for electric utilities and infrastructure, $6 billion for gas utilities and infrastructure, and $1 billion for commercial renewable for the aforementioned period.
Duke Energy is also focused on generating cleaner energy and bolstering its renewable asset base. Toward this end, the company entered into an agreement with Siemens last week, to design and build a new advanced gas combustion turbine. This agreement will result in lower customer costs, regional economic growth, increased efficiency and flexibility. (Read more: Duke Energy, Siemens Agree to Build Gas Combustion Turbine)
Notably, Duke Energy is a premier utility service provider offering efficient power and energy services across various states in the U.S. and several other international locations. We appreciate the company’s efforts on expanding its scale of operations and implementing modern technologies at its facilities, and in turn boosting employment rate of the nation. The recent selection for site readiness program is an example of one such initiative.
Price Movement
Duke Energy has outperformed the Zacks categorized Utility- Electric Power industry, in the last six months. During this period, the company’s shares gained 12.9% as against the industry’s gain of 8.1%. The company has also outperformed Alliant Energy Corporation (LNT - Free Report) and Exelon Corporation (EXC - Free Report)
Duke Energy’s strong focus on core domestic regulated and highly-contracted renewable business has bode well for its stable financial position and streamlined portfolio, which in turn might have driven this outperformance.
Brookfield Infrastructure Partners’ EPS growth is estimated to be 10% in the next five years. The company surpassed its earnings estimates in three of the last four quarters by 0.79%.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
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Duke Energy (DUK) Selects 6 Sites for Readiness Program
Duke Energy (DUK - Free Report) announced that six properties in North Carolina will participate in the first half of its 2017 Site Readiness Program. These properties will be prepared for business and industrial development.
About Site Readiness Program
The program was started by Duke Energy in North Carolina in 2005 and since then it has invested $3.3 billion in this project creating over 2400 jobs. With the help of this program the prepared sites in the state have already won 11 major projects.
The sites selected for development this time include a 200-acre tract in Newlin Farm Site of Haw River for heavy power and water infrastructure, a 290-acre tract in Chatham-Siler City Advanced Manufacturing Site to serve as a supplier park or commercial support park to any nearby larger project, 79-acre Craven County-owned site and 532-acre property at 401 North Site for industrial use, 278-acre Watson Farm site in Franklin County for industrial development and 278-acre Roberts and Wellons site in Johnston County to accommodate biotech manufacturing facilities..
Each of these sites is eligible to apply for a $10,000 matching grant from the company which will help in preparations.
Growth Through Investments
In addition to such site readiness program, Duke Energy boasts a robust five-year capital plan worth $37 billion in growth projects over the 2017-2021 time frame. The company has a history of heavy investment in infrastructure and expansion projects. Segment wise, it expects to spend about $30 billion for electric utilities and infrastructure, $6 billion for gas utilities and infrastructure, and $1 billion for commercial renewable for the aforementioned period.
Duke Energy is also focused on generating cleaner energy and bolstering its renewable asset base. Toward this end, the company entered into an agreement with Siemens last week, to design and build a new advanced gas combustion turbine. This agreement will result in lower customer costs, regional economic growth, increased efficiency and flexibility. (Read more: Duke Energy, Siemens Agree to Build Gas Combustion Turbine)
Notably, Duke Energy is a premier utility service provider offering efficient power and energy services across various states in the U.S. and several other international locations. We appreciate the company’s efforts on expanding its scale of operations and implementing modern technologies at its facilities, and in turn boosting employment rate of the nation. The recent selection for site readiness program is an example of one such initiative.
Price Movement
Duke Energy has outperformed the Zacks categorized Utility- Electric Power industry, in the last six months. During this period, the company’s shares gained 12.9% as against the industry’s gain of 8.1%. The company has also outperformed Alliant Energy Corporation (LNT - Free Report) and Exelon Corporation (EXC - Free Report)
Duke Energy’s strong focus on core domestic regulated and highly-contracted renewable business has bode well for its stable financial position and streamlined portfolio, which in turn might have driven this outperformance.
Zacks Rank and other Stock to Consider
Duke Energy currently has a Zacks Rank #3 (Hold). Another better-ranked stock in the same space is Brookfield Infrastructure Partners LP (BIP - Free Report) , sporting a Zacks rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Brookfield Infrastructure Partners’ EPS growth is estimated to be 10% in the next five years. The company surpassed its earnings estimates in three of the last four quarters by 0.79%.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>