Duke Energy (DUK) stock, which has significant renewable energy interests, has benefited from plans to invest in large-scale infrastructure. Duke Energy Corporation’s shares closed Thursday at $97.62, down -0.20%. 4.92 million shares were traded, which is higher than the average volume of shares over the last three months of 3.29 million. The stock fluctuated between $97.37 and $98.15 during the trading session.
DUK stock earnings per share ratio of 1.72 was achieved by the Duke Energy. During the previous five sessions, DUK’s stock has gained 1.13% of its value, while the stock has gained 7.33% over the last month, although the stock has gained 6.62% year-to-date. Stock is currently trading at an RSI of 69.29 with a 50-day moving average of $92.04 above the 200-day moving average of $88.65. Additionally, the stock hit a 52-week high of $92.02.
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President Joe Biden’s administration has prepared a $ 2 trillion infrastructure investment program. Donald Trump has promised essentially the same thing, but this program is sustainable by raising taxes. According to the Biden program, the United States will move towards zero carbon emissions by 2050. To achieve this ambitious goal, a substantial amount of wind and solar power will be necessary. Duke Energy could be a beneficiary of this infrastructure development program.
Duke Energy launched the 350 MW Frontier Windpower in March 2020, which, combined with another similar facility in Oklahoma, brought the project’s total capacity to 550 MW.
Duke Energy (DUK) announced plans to expand its solar energy portfolio in Florida to build two 75MW solar power plants.
Duke plans to double its renewable energy portfolio and boost its generating capacity to 16 GW by the end of 2025. Furthermore, the Duke Energy plans to convert half of the 6,000 trucks currently driven by gasoline to electric by 2030.
Duke Energy (DUK) will deploy a fast-charging network for electric vehicles in early March 2021 in partnership with several utilities. This one is designed for long-distance drivers, as opposed to many other urban projects. Perhaps Duke’s work will continue, which will bring the Duke Energy a new market.