Duke Energy: 100-Year Dividend Track Record — But $103B Capex Is Compressing The Credit Cushion

Duke Energy boasts a 100-year dividend track record and strong operational foundation, but its massive $103 billion capital expenditure plan is putting pressure on its credit metrics. While the dividend is well-covered, the FFO-to-debt ratio is currently below Moody’s target, raising concerns about the company’s ability to maintain its credit cushion as it spends heavily before new revenues come online. Investors should monitor FFO-to-debt trajectory and the timely conversion of data center agreements into actual load.

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