Stock Update: Duke Energy Corp (NYSE:DUK) – Duke Energy Renewables enters New Mexico with a 25-MW solar project

[PR Newswire] – CHARLOTTE, N.C., May 10, 2016 /PRNewswire/ — Duke Energy Renewables today announced construction has begun on the 25-megawatt (MW) Caprock Solar Power Project near Tucumcari in Quay County, New Mexico. The company acquired the project from Infigen Energy. Power from the project will be sold to Western Farmers Electric Cooperative (WFEC) under a 25-year agreement. Read more on this. Duke Energy Corporation (DUK) , with a current market cap of $55.38B, started trading this morning at $80.41. Looking at today’s trading action, the company’s one day range from $79.84 to $80.49 with the price of the stock fluctuating between $65.50 to $81.39 over the last 52 weeks. Duke Energy (DUK) shares are currently priced at 17.48x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.10x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $3.30 per share annually in dividends, yielding 4.16%. According to a consensus of 11 analysts, the earnings estimate of $0.99 per share would be $0.04 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $4.58 is a $0.04 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.71 Billion. If reported, 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. When considering if the stock is under or overvalued, the average price target is $80.24, which is 0.21% below where the stock opened this morning. See more in (NYSE:DUK) Similar Articles: Company Update: Duke Energy Corp (NYSE:DUK) – Duke Energy Renewables acquires six North Carolina solar projects from Community Energy Company Update: Duke Energy Corp (NYSE:DUK) – Duke Energy Renewables acquires two North Carolina solar projects from ET Capital Company Update: Duke Energy Corp (NYSE:DUK) – Duke Energy Renewables acquires 20-MW Longboat Solar Project in California from EDF Renewable Energy