Research Desk Line-up: Dominion Energy Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 7, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Duke Energy Corp. (NYSE: DUK), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=DUK. The Company announced on November 03, 2017, that its decision to invest $3 billion under its Power/Forward Carolinas plan to strengthen the transmission and distribution power grid in South Carolina. The 10-year plan represents one of the biggest capital investment by a Company in the state of South Carolina in recent years and is expected to give a much-needed boost to the state's economy. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Electric Utilities industry. Pro-TD has currently selected Dominion Energy, Inc. (NYSE: D) for due-diligence and potential coverage as the Company announced on October 30, 2017, its unaudited financial results for Q3 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Dominion Energy when we publish it.

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Duke Energy has set up a new $25 billion master plan for capital investment to modernize its electric grid across its six-states over a 10-year period. The current investment of $3 billion in South Carolina is a part of this bigger plan.

Commenting on Duke Energy's 10-year modernization plan for South Carolina, Kodwo Ghartey-Tagoe, President of Duke Energy - South Carolina, said:

"Safely powering the lives of hard-working families and maintaining the vitality of our communities are our most important responsibilities. Investing in smarter, efficient energy infrastructure is more than just good business ? it's an investment in our state that helps to attract jobs and industry and makes our economy and our communities stronger."

Robert "Bobby" M. Hitt III, Secretary of Commerce - South Carolina Department of Commerce, added:

"In South Carolina, we work together to ensure that our businesses have the resources needed to succeed, and access to safe, affordable energy is certainly one of those key resources. For decades, Duke Energy has been critical in this effort; and this new initiative will only strengthen our state's reputation as an ideal location for business."

Scope of the Power/Forward Carolinas plan

Duke Energy's Power/Forward Carolinas plan envisions the upgrade of power grid system to harden it to withstand storms and outages and protect the power grid system from cyberattacks and physical threats. The upgrades will improve power quality and reliability and prevent outages. These efficiencies will result in reduces cost of energy. The Company's program is expected to increase the usage of renewable energy like solar power in the economy, help in the creation of new jobs and push for economic growth. The Company also plans to provide information to over 740,000 customers in the Palmetto State about managing their energy consumption to save costs.

A majority of spending will be on moving overhead lines to underground lines. The Company has earmarked approximately $1.3 billion for this project. The next major spending would be on the strengthening the distribution grid and transmission lines. The Company has set aside approximately $704 million for this project. Spending of $533 million has been budgeted towards substation and transmission line upgrades, flood mitigation, physical and cyber security, and system intelligence. The plan has earmarked $385 million towards automation of the power grids by modernizing and making it smarter resulting in the improved delivery system. The Company plans to spend $107 million on advanced metering infrastructure and $74 million to upgrade communications network from 2G/3G to 4G LTE for transmission and distribution line devices.

Benefits of the Power/Forward Carolinas plan

Duke expects that the implementation of the plan will create over 3,300 new jobs annually. The project will contribute approximately $315 million in new salaries and wages, especially during the peak years of the construction phase of the project. The project is expected to contribute over $116 million to the state's tax revenues. In the next ten years, the project will have a total economic output of more than $5 billion.

The benefit of the project is summed up by Dr. Joseph von Nessen, Research Economist - University of South Carolina, who studied the economic impact of the project as well as the overall impact of Duke Energy to the economic state of South Carolina. According to him:

"To put this into perspective, recent announcements from automotive manufacturers either expanding or relocating to South Carolina have ranged from $500 million to $1.5 billion, implying that the Power/Forward Carolinas initiative is roughly equivalent to several major automotive manufacturing announcements in the state."

About Duke Energy

Charlotte, North Carolina based Duke Energy is one of the largest electric power holding Companies in the US. It supplies and delivers electricity to approximately 7.4 million US customers. The Company has approximately 52,700 megawatts of electric generating capacity in the Carolinas, the Midwest and Florida ? and natural gas distribution services serving more than 1.5 million customers in Ohio, Kentucky, Tennessee, and the Carolinas. The Company also owns and operates diverse power generation assets in North America, including a portfolio of renewable energy assets. The Company has $22.7 billion in total annual operating revenues. Duke Energy currently serves 30 of South Carolina's 46 counties.

Last Close Stock Review

Duke Energy's share price finished yesterday's trading session at $87.87, marginally sliding 0.73%. A total volume of 2.56 million shares have exchanged hands, which was higher than the 3-month average volume of 2.25 million shares. The Company's stock price rallied 1.47% in the last three months, 7.01% in the past six months, and 13.72% in the previous twelve months. Additionally, the stock surged 13.21% since the start of the year. Shares of the Company have a PE ratio of 22.14 and have a dividend yield of 4.05%. The stock currently has a market cap of $61.53 billion.

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