JPMorgan Adjusts Price Target on Duke Energy to $137 From $141, Maintains Neutral Rating

Duke Energy (NYSE:DUK) completed a US$1.75 billion composite units offering in August 2026, selling 35,000,000 equity/derivative units at US$50 each, with Santander US, CIBC, RBC, Scotia Capital (USA) and TD Securities (USA) as co-lead underwriters. The funds support AI-linked data center power demand under long-term service agreements, alongside solid Q2 2026 results.

North Carolina Attorney General Jeff Jackson accused Duke Energy of false sworn testimony about a proposed rate increase. At a state commission hearing, Duke said residential hikes would average 6.8%, but Jackson’s office calculated a 9.3% increase. Jackson says he will not sign the settlement. Duke denies misleading regulators. Environmental groups also urge lower profit targets and more renewables.

North Carolina Attorney General Jeff Jackson says Duke Energy Progress misstated the proposed two-year residential rate increase before the Utilities Commission. He argues Duke’s 6.8% figure reflects all customer classes, while DOJ calculations show about 9.3% for residential customers. Duke sought 18.1%, later proposed a settlement. Commission review continues; if approved, rates start Jan. 1, 2027.

North Carolina Attorney General Jeff Jackson challenged Duke Energy’s under-oath description of a proposed electricity rate settlement. Duke says rates would rise 6.8% over two years. Jackson argues residential customers would face a 9.3% increase. The Utilities Commission must approve the settlement, which would take effect Jan. 1.

North Carolina Attorney General Jeff Jackson said he will not sign a Duke Energy progress settlement that would raise residential electric rates by nearly 7% over two years. The proposal was reduced from an original 18% request, but Jackson said costs remain too high. The changes would affect eastern NC and Asheville, with rates starting Jan. 1, 2027, if approved.

North Carolina Attorney General Jeff Jackson said he will not sign a proposed settlement in Duke Energy Progress’s rate case that would raise residential bills about 6.8% over two years, down from Duke’s 18.1% request. Jackson cited a still-high return on equity (settlement 9.8% vs request 10.95%, his 7.4%) and urged lower rates. The Utilities Commission will decide; new rates could start Jan. 1, 2027.