Market Update (NYSE:DUK): Federal Trade Commission grants antitrust approval of Duke Energy’s proposed acquisition of Piedmont Natural Gas

[PR Newswire] – CHARLOTTE, N.C., Dec. 22, 2015 /PRNewswire/ — Duke Energy’s proposed acquisition of Piedmont Natural Gas has cleared a key condition needed for completion, the two companies announced today. The transaction still requires approval by Piedmont shareholders and the North Carolina Utilities Commission. Duke Energy and Piedmont also are providing information regarding the acquisition to the Public Service Commission of South Carolina and the Tennessee Regulatory Authority. Read more on this. Duke Energy Corporation (DUK) , with a current market cap of $48.38B, opened at $70.33. Today’s price range has been between $69.66 and $70.59 per share with a one year range of $65.50 to $89.97. DUK shares are currently priced at 15.24x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.29x 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 4.74%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $0.93 per share, which would be $0.07 better than the year-ago quarter and a $0.03 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $4.58 would be a $0.03 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 $6.56 Billion. If realized, that would be a 17.99% increase over the year-ago quarter. Recently, Mizuho Initiated DUK at Neutral (Jun 30, 2015). Previously, Bernstein upgraded DUK from Mkt Perform to Outperform. When considering if perhaps the stock is under or overvalued, the average price target is $75.53, which is 7.39% above where the stock opened this morning. See more in (NYSE:DUK) Similar Articles: Market Update (NYSE:DUK): Duke Energy designates Yoho to lead Natural Gas Operations upon completion of the Piedmont acquisition Stock Update (NYSE:DUK): PNY SHAREHOLDER ALERT: The Law Offices of Vincent Wong Launches an Investigation of the Board of Directors of Piedmont Natural Gas Company, Inc. Regarding the Sale of the Company to Duke Energy Corp. — PNY 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