The utility plans to use proceeds from the sale to strengthen its balance sheet and fund increased rate base investments. Duke Energy has raised its long-term funds from operations to debt target to 15% following the announcement. The company has also increased its capital expenditure guidance from $83 billion to $87 billion and updated its funding plan, BofA Securities noted in its analysis of the transaction. The deal requires approvals from the Federal Energy Regulatory Commission and the Committee on Foreign Investment in the United States, with closing expected in early 2026. In other recent news, Duke Energy reported first-quarter earnings per share (EPS) of $1.76, exceeding both BMO Capital Markets' and the consensus estimate of $1.62. BMO responded by raising its price target for Duke Energy to $131, while maintaining an Outperform rating. Duke Energy also increased its quarterly cash dividend to $1.065 per share, a $0.02 rise from the previous payout, payable on September 16, 2025.