Duke Energy Corporation (NYSE:DUK) reported its results for the fourth quarter. Net income for Duke Energy Corporation fell to $288 million (22 cents per share) vs. $427 million (32 cents per share) a year earlier. This is a decline of 32.6% from the year earlier quarter. Revenue fell 2.2% to $3.37 billion from the year earlier quarter. Duke Energy Corporation reported adjusted net income of 24 cents per share. By that measure, the company beat the mean estimate of 21 cents per share. Analysts were expecting revenue of $3.37 billion.

“2011 was a year of accomplishments for Duke Energy,” said Jim Rogers, chairman, president and chief executive officer. “We expect to complete our remaining fleet modernization projects in North Carolina and Indiana in 2012, which will better position the company to meet its customers’ future energy needs in a more efficient and environmentally responsible manner. Also, we will continue to pursue regulatory approvals for our pending merger with Progress Energy.”

Competitors to Watch: American Electric Power Co., Inc. (NYSE:AEP), Progress Energy, Inc. (NYSE:PGN), DPL Inc. (NYSE:DPL), The Southern Company (NYSE:SO), PPL Corporation (NYSE:PPL), SCANA Corporation (NYSE:SCG), TECO Energy, Inc. (NYSE:TE), FirstEnergy Corp. (NYSE:FE), ALLETE, Inc. (NYSE:ALE), and Dominion Resources, Inc. (NYSE:D).

DTE Energy Company(NYSE:DTE) reported its results for the fourth quarter. Net income for the electric utilities company fell to $150 million (88 cents per share) vs. $152 million (90 cents per share) a year earlier. This is a decline of 1.3% from the year earlier quarter. Revenue remained constant at $2.17 billion. DTE Energy Company beat the mean analyst estimate of 81 cents per share. It beat the average revenue estimate of $2.02 billion.

Gerard M. Anderson, DTE Energy’s chairman, president and CEO, said, “As one of the largest investors in the state of Michigan, DTE Energy is delivering on its commitment to be a force for renewed growth and prosperity in the communities we serve. As part of our involvement in the Pure Michigan Business Connect Initiative, we pledged to invest $750 million in new business with Michigan-based suppliers over the next five years.”

Competitors to Watch: CMS Energy Corporation (NYSE:CMS), Wisconsin Energy Corp. (NYSE:WEC), Integrys Energy Group, Inc. (NYSE:TEG), The Empire District Electric Co. (NYSE:EDE), NiSource Inc. (NYSE:NI), Dominion Resources, Inc. (NYSE:D), Black Hills Corporation (NYSE:BKH), Avista Corporation (NYSE:AVA), Ameren Corporation (NYSE:AEE), and CH Energy Group, Inc. (NYSE:CHG).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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