Duke Energy Corp (NYSE:DUK) announced the appointment of Doug Esamann, currently president of Duke Energy Indiana, as president of the company’s Midwest and Florida Regions and a corporate executive vice president.
Esamann, 57, will oversee the company’s Indiana, Ohio, Kentucky and Florida utilities, effective June 1, 2015. Previously, those operations were overseen by Keith Trent, who is retiring.
He will report to Duke Energy CEO and president Lynn Good, and serve on the company’s senior management committee.
“Doug Esamann is a seasoned executive who put customers first in working with regulatory, government and economic development stakeholders as president of Duke Energy Indiana,” said Lynn Good Duke Energy CEO and vice chair. “We look forward to his leadership of our Midwest and Florida utilities as a member of our senior management committee.”
Esamann, a 36-year veteran of Duke Energy, has since 2010 overseen the company’s operations in Indiana, where Duke Energy is the largest electric utility, serving about 810,000 customers in 69 of the state’s 92 counties.
Previously, Esamann served as senior vice president of corporate strategy for Duke Energy, and group vice president of strategy and planning for Duke Energy’s U.S. Franchised Electric and Gas organization.
Melody Birmingham-Byrd, currently senior vice president of Midwest Distribution Operations, will replace Esamann as president of Duke Energy Indiana, reporting to Esamann.
The company also announced, effective June 1:
- Chuck Whitlock, currently senior vice president of Gas Operations will broaden his responsibilities to include Midwest Distribution Operations, reporting to Esamann.
- Lee Mazzocchi, who previously reported to Trent, will continue in his role as senior vice president, Grid Solutions, reporting to Lloyd Yates, executive vice president, Market Solutions, and president of the Carolinas Region.
- Michael Lewis, who previously reported to Trent, will continue in his role as senior vice president, Transmission, reporting to Dhiaa Jamil, executive vice president and president of the newly named Regulated Generation & Transmission organization.
- Greg Wolf, currently president, Duke Energy Renewables, will become president, Commercial Portfolio, which will include Commercial Transmission, Strategic Initiatives, and Duke Energy Renewables, reporting to Good. Previously, those operations, as well as Duke Energy International, were overseen by Marc Manly, who is retiring.
- Andrea Bertone, president of Duke Energy International, will continue in that role, also reporting to Good.
“These individuals bring extensive experience, deep expertise and strong commitment to their respective positions,” Good said. “I am very confident in these leaders’ ability to help us achieve our strategic goals and accelerate our focus on customers, operations, employees and growth.” (Original Source)
Shares of Duke Energy closed today at $76.16, up $0.1309 or 0.17%. DUK has a 1-year high of $89.97 and a 1-year low of $68.81. The stock’s 50-day moving average is $76.60 and its 200-day moving average is $79.22.
On the ratings front, Duke Energy has been the subject of a number of recent research reports. In a report issued on May 7, RBC analyst Shelby Tucker reiterated a Buy rating on DUK, with a price target of $93, which represents a potential upside of 22.1% from where the stock is currently trading. Separately, on May 4, Barclays’ Daniel Ford maintained a Hold rating on the stock and has a price target of $82.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Shelby Tucker and Daniel Ford have a total average return of 3.0% and 9.4% respectively. Tucker has a success rate of 61.9% and is ranked #1855 out of 3606 analysts, while Ford has a success rate of 73.9% and is ranked #538.
Overall, 2 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $76.19 which is 12.9% above where the stock opened today.
Duke Energy Corporation operates as an energy company. The Company operates in three business segments; Regulated Utilities, International Energy and Commercial Power.