Company Update (NYSE:DUK): Duke Energy gets green light to build 17-MW solar power plant at Crane naval station

[PR Newswire] – PLAINFIELD, Ind., July 7, 2016 /PRNewswire/ — More clean, renewable solar energy will soon flow to Duke Energy Indiana customers with the construction of a new 17-megawatt solar power plant at Naval Support … Read more on this. Duke Energy Corporation (DUK) , valued at $58.64B, started trading this morning at $86.79. Looking at the stock, its one day range is $85.06 to $87.02 with a one year range of $65.50 to $87.31. DUK shares are currently priced at 19.00x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.89x earnings multiple. Consensus earnings for the current quarter by the 12 sell-side analysts covering the stock is an estimate of $1.00 per share, which would be $0.05 better than the year-ago quarter and a $0.01 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $4.59, which would be a $0.05 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.71 Billion. If realized, that would be a 2.15% increase over the year-ago quarter. In terms of ratings, JP Morgan downgraded DUK from Overweight to Neutral (Feb 19, 2016). Previously, Wells Fargo downgraded DUK from Outperform to Market Perform. The average price target for DUK shares is $81.59, which is 5.99% below where the stock opened this morning. See more in (NYSE:DUK) Similar Articles: Market Update (NYSE:DUK): Two Duke Energy solar facilities get green light from N.C. regulators Market Update: Duke Energy Corp (NYSE:DUK) – Duke Energy Indiana renews commitment to clean energy with upgrades at Markland Hydro Station Company Update (NYSE:DUK): Duke Energy to build its first solar project in Rowan County, N.C.