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Truist Securities analyst Richard Sunderland maintains Duke Energy (NYSE:DUK) with a Buy and lowers the price target from $138 to $135.
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Gene Munster said the power sector is shaping up to be the next major AI investment opportunity, comparing it to Nvidia's 2023 breakout.
PPL Corporation reported a 17% year-over-year increase in Q2 operating income to $475 million, driving a 20% rise in EPS. The company is positioned for sustained growth through 2029 with a $23 billion investment outlook supporting 10.3% annual rate-base growth and 6-8% EPS growth, bolstered by significant data center demand in Pennsylvania (31.8 GW) and Kentucky (13.7 GW). PPL's debt-to-capital ratio of 57.46% is lower than the industry average, strengthening its financial capacity.
Vanguard's Utilities ETF (VPU) is recommended as a defensive investment option during potential market corrections. Unlike the S&P 500, utilities stocks typically outperform during bear markets due to their stable, income-generating nature. VPU holds 68 utility companies and delivered a 1% return during the 2022 market downturn when the S&P 500 fell 25%, offering investors a safer alternative with a 2.71% SEC yield.
Camus Energy, a Google and Amazon alumni-founded startup, has been selected for Google's 10-week accelerator program focused on AI energy solutions. The company will demonstrate its FlexConnect software to major utilities including Duke Energy, Edison International, and PG&E, enabling AI data centers to connect to the grid 3-5 years faster using flexible operating limits and existing infrastructure.