Why Duke Energy Stock Surged 14.6% in 2021
Shares of Duke Energy (NYSE: DUK) rose 14.6% in 2021, according to data provided by S&P Global Market Intelligence. While that lagged the S&P 500's nearly 27% gain, it was a solid showing for a utility stock. Powering the company's gains was its better-than-expected financial results and progress on its long-term growth plan.
Duke Energy generated solid financial results through the third quarter of 2021. It grew its year-to-date adjusted earnings to $4.30 per share, up 5.1% from the year-ago period. The utility benefited from higher retail electric volumes, higher base rates, and recently completed commercial renewable energy projects. That had the utility on track to deliver full-year earnings within its narrowed guidance range of $5.15 to $5.30 per share. It increased the low end of that range from its initial guidance of $5.00 to $5.15 per share due to the strength of its operations.
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