Company Update: Duke Energy Corp (NYSE:DUK) – Sabal Trail Transmission Project Receives FERC Certificate

[PR Newswire] – LAKE MARY, Fla., Feb. 3, 2016 /PRNewswire/ — Sabal Trail Transmission, LLC, a joint venture of Spectra Energy Partners, LP (SEP), NextEra Energy, Inc., and Duke Energy, received a certificate of public convenience and necessity from the Federal Energy Regulatory Commission (FERC) to construct and operate the Sabal Trail interstate natural gas pipeline project. Once complete, the 516-mile pipeline would have the capacity to deliver approximately 1.1 billion cubic feet of natural gas per day to the Southeast U.S., including firm transportation services to Florida Power & Light Company and Duke Energy of Florida. Read more on this. Duke Energy Corporation (DUK) , with a current market cap of $54.12B, started trading this morning at $76.84. During today’s session, DUK traded between $76.76 to $78.63 with a trailing 52-week range being $65.50 to $87.18. DUK shares are currently priced at 16.79x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 8.46x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $3.30 per share annually in dividends, yielding 4.38%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $0.90 per share, which would be $0.04 better than the year-ago quarter and a $0.02 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $4.57 is a $0.02 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.29 Billion. If reported, that would be a 13.13% increase over the year-ago quarter. Recently, Wells Fargo downgraded DUK from Outperform to Market Perform (Feb 2, 2016). Previously, BofA/Merrill upgraded DUK from Underperform to Neutral. Given all the information above, we should disclose to readers that the average price target is $73.74, which is 4.03% below than it opened this morning. See more in (NYSE:DUK) Similar Articles: Market Update: Duke Energy Corp (NYSE:DUK) – SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Piedmont Natural Gas Company, Inc. of Commencement of an Investigation Concerning the Fairness of the Sale of the Company to Duke Energy Corp. — PNY Company Update: Duke Energy Corp (NYSE:DUK) – Duke Energy to add second solar project for its "Sunshine State" customers Market Update: Duke Energy Corp (NYSE:DUK) – Duke Energy to announce its recommended route for Foothills Transmission Line in early October
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