Duke Energy promotes two executives to lead federal affairs team

CHARLOTTE - Duke Energy (NYSE: DUK), a prominent player in the Electric Utilities industry with a market capitalization of $89 billion and annual revenue exceeding $30.5 billion, announced Wednesday the promotion of two executives to lead its federal affairs division, effective July 1.

Pepper Natonski will become senior vice president of federal affairs, policy and sustainability, while Tom Craig will serve as vice president of federal affairs.

Natonski, who joined Duke Energy nearly 10 years ago, previously worked as chief of staff to Congressman Richard Hudson. In her new role, she will oversee federal affairs, policy, sustainability and philanthropy teams.

Craig, who has worked at Duke Energy for over a decade, will lead the execution of the company’s federal public policy strategy and represent the company before Congress, the administration and federal agencies.

"Duke Energy is executing an ambitious strategy to serve the growing needs of our customers and communities," said Louis Renjel, executive vice president and chief corporate affairs officer, in a press release statement.

Duke Energy, headquartered in Charlotte, North Carolina, is an energy holding company with electric utilities serving 8.6 million customers across six states and natural gas utilities serving 1.7 million customers in five states.

The company describes itself as being in the midst of an energy transition that includes investments in electric grid upgrades and cleaner generation sources.

In other recent news, Duke Energy Corporation reported strong financial results for the first quarter of 2025, exceeding analysts’ expectations with an adjusted earnings per share (EPS) of $1.76, compared to the forecasted $1.48. The company’s revenue also surpassed projections, reaching $8.25 billion against an anticipated $7.81 billion. This performance marks a significant 22% year-over-year increase in adjusted EPS, primarily driven by improvements in its Electric Utilities and Infrastructure segment. Following these results, BMO Capital Markets raised its price target for Duke Energy from $123.00 to $131.00, maintaining an Outperform rating, while Jefferies increased its target from $133.00 to $138.00, reiterating a Buy rating. Both firms highlighted the company’s strong performance and growth prospects, with Jefferies noting the potential for a 16% upside in the stock price. Duke Energy has also secured agreements with two data center customers for a total capacity of 1 gigawatt, contributing to management’s optimism about future load growth. Additionally, the company reaffirmed its 2025 earnings guidance range of $6.17 to $6.42 per share, with a long-term EPS growth target of 5% to 7% through 2029.

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