Market Update (NYSE:DUK): Indiana state utility regulators approve Duke Energy’s plan to modernize its statewide energy grid

[PR Newswire] – PLAINFIELD, Ind., June 29, 2016 /PRNewswire/ — The Indiana Utility Regulatory Commission Wednesday approved Duke Energy’s settlement with some of Indiana’s key consumer groups on the company’s plan to build a smarter energy infrastructure that delivers power to more than 800,000 Hoosier homes, businesses and industries. “We have an aging energy grid — some equipment that is decades old — and our work will focus on replacing some older infrastructure to reduce power outages,” said Duke Energy Indiana President Melody Birmingham-Byrd. Read more on this. Duke Energy Corporation (DUK) , valued at $57.97B, opened at $84.22. Looking at today’s market, DUK one day range is $83.66 to $84.50 with a one year range of $65.50 to $84.50. Priced at 18.30x this year’s forecasted earnings, DUK shares are relatively expensive compared to the industry’s 15.26x forward p/e ratio. And for passive income investors, the company pays shareholders $3.30 per share annually in dividends, yielding 4.00%. 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 $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $4.59, which would be a $0.05 improvement when compared to the last 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. Recently, 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 $80.53, which is 4.38% 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 Stock Update: Duke Energy Corp (NYSE:DUK) – Duke Energy reviews state civil penalty while making strong progress in closing ash basins