Regarding the 1.3 billion...
...to anyone aware of what is going on with TECO, this is no surprise. If it is a surprise, it just shows how much one does not know and understand or how out of touch s/he is.
DD is not a one time deal. It is one thing to find out about the happening after the fact, but if you continually watch and listen, you will understand why things are being done.
Not understanding what and why things are happening is a grave mistake for anyone, long or short.
Despite the resulting dilution, the share increase is very good and will provide a huge payback.