Company Update: Duke Energy Corp (NYSE:DUK) – Duke Energy Renewables acquires 20-MW Longboat Solar Project in California from EDF Renewable Energy

[PR Newswire] – CHARLOTTE, N.C. and SAN DIEGO, March 23, 2016 /PRNewswire/ — Duke Energy Renewables has acquired the development assets associated with the proposed 20-megawatt (MW-AC) Longboat Solar Power Project in … Read more on this. Duke Energy Corporation (DUK) , with a current market cap of $54.90B, opened this morning at $78.86. Shares have traded today between $78.43 and $79.79 per share and has traded between $65.50 and $80.40 over the past year. Duke Energy (DUK) shares are currently priced at 17.11x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.94x earnings multiple for the same period. And for passive income investors, the company pays shareholders $3.30 per share annually in dividends, yielding 4.14%. In a review of the consensus earnings estimate this quarter, 9 sell-side analysts are looking at $1.18 per share, which would be $0.06 worse than the year-ago quarter and a $0.02 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $4.61, which would be a $0.07 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.04 Billion. If reported, that would be a 0.33% decrease over the year-ago quarter. Recently, JP Morgan downgraded DUK from Overweight to Neutral (Feb 19, 2016). Previously, Wells Fargo downgraded DUK from Outperform to Market Perform. Investors should keep in mind is that the average price target is $78.31, which is 0.70% below where the stock opened this morning. See more in (NYSE:DUK) Similar Articles: Market Update (NYSE:DUK): With completion of Los Vientos V, Duke Energy Renewables racks up more than 600 megawatts of wind and solar power in 2015 Stock Update: Duke Energy Corp (NYSE:DUK) – North Carolina solar was hot in 2015; Duke Energy led the charge Company Update: Duke Energy Corp (NYSE:DUK) – Duke Energy to add second solar project for its "Sunshine State" customers