Market Update: Duke Energy Corp (NYSE:DUK) – Duke Energy responds to ash basin closure rankings, calls for legislative change

[PR Newswire] – CHARLOTTE, N.C., May 18, 2016 /PRNewswire/ — Duke Energy today issued the following statement in response to ash basin closure rankings announced by the North Carolina Department of Environmental Quality (NCDEQ). Today’s announcement is an important milestone in the development of long-term closure solutions for coal ash basins, which store non-hazardous material. If NCDEQ’s proposed recommendations are allowed to stand, without review and possible adjustments based on additional new information, the state will have chosen the most extreme closure option that will have a significant impact on customer costs and hinder economic development. Read more on this. Duke Energy Corporation (DUK) , with a current value of $53.33B, opened at $78.60. Looking at the stock, its one day range is $77.22 to $78.46 with the price of the stock fluctuating between $65.50 to $81.39 over the last 52 weeks. Priced at 17.65x this year’s forecasted earnings, DUK shares are relatively inexpensive compared to the industry’s 24.16x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $3.30 per share annually in dividends, yielding 4.09%. According to a consensus of 10 analysts, the earnings estimate of $0.98 per share would be $0.03 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $4.59 is a $0.05 better when compared to the previous 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. Recently, JP Morgan downgraded DUK from Overweight to Neutral (Feb 19, 2016). Previously, Wells Fargo downgraded DUK from Outperform to Market Perform. With the above information in mind, readers should note that the average price target is $80.24, which is 2.09% above where the stock opened this morning. See more in (NYSE:DUK) Similar Articles: Stock Update: Duke Energy Corp (NYSE:DUK) – Duke Energy grants for Dan River Basin region top $1.6 million Market Update (NYSE:DUK): Solar rankings: Duke Energy among Top 3 in the nation Market Update: Duke Energy Corp (NYSE:DUK) – Duke Energy Indiana renews commitment to clean energy with upgrades at Markland Hydro Station
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