Stock Update (NYSE:DUK): Duke Energy Carolinas proposes more than $3 in monthly savings for customers in North Carolina

[PR Newswire] – CHARLOTTE, N.C., March 10, 2016 /PRNewswire/ — Duke Energy Carolinas customers in North Carolina will see more than $3 in savings on their monthly energy costs in 2017 if the company’s annual filings receive approval from the North Carolina Utilities Commission (NCUC). On March 9, 2016, Duke Energy Carolinas made its annual filings with the NCUC for costs associated with fuel, compliance with the state’s renewable energy portfolio standard (REPS), and implementation of energy efficiency (EE) and demand-side management (DSM) programs. If approved, the total monthly impact of all rate changes (fuel, REPS, DSM, EE) for a typical residential customer using 1,000 kilowatt hours (kWh) per month is a decrease of about $3.11. Read more on this. Duke Energy Corporation (DUK) , valued at $53.47B, started trading this morning at $77.51. Looking at today’s market, DUK one day range is $77.27 to $77.88 and has traded between $65.50 and $80.10 over the past 12 months. Priced at 16.81x this year’s forecasted earnings, DUK shares are relatively expensive compared to the industry’s 16.21x forward p/e ratio. And for passive income investors, the company pays shareholders $3.30 per share annually in dividends, yielding 4.39%. Consensus earnings for the current quarter by the 9 sell-side analysts covering the stock is an estimate of $1.18 per share, which would be $0.06 worse than the year-ago quarter and a $0.02 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $4.61, which would be a $0.07 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.04 Billion. If reported, that would be a 0.33% decrease 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. With the above information in mind, readers should note that the average price target is $77.14, which is 0.48% below where the stock opened this morning. See more in (NYSE:DUK) Similar Articles: Company Update: Duke Energy Corp (NYSE:DUK) – Duke Energy customers surpass 1 terawatt of energy savings through My Home Energy Report Program Stock Update: Duke Energy Corp (NYSE:DUK) – North Carolina solar was hot in 2015; Duke Energy led the charge Stock Update: Duke Energy Corp (NYSE:DUK) – Duke Energy, Piedmont Natural Gas file with North Carolina Utilities Commission for acquisition approval