Stock Update (NYSE:DUK): Duke Energy Progress proposes nearly $3 in monthly fuel savings for residential customers in South Carolina

[PR Newswire] – GREENVILLE, S.C., April 29, 2016 /PRNewswire/ — Duke Energy Progress is proposing close to $3 in monthly fuel savings for its customers beginning this summer. If approved by the Public Service Commission of South Carolina (PSCSC), the new fuel rates, which would go into effect July 1, would be the lowest since 2006. On April 28, 2016, Duke Energy Progress made its annual fuel filing with the PSCSC for costs associated with the purchase of fuel. Read more on this. Duke Energy Corporation (DUK) , with a current market cap of $53.86B, started the session at $77.81. During today’s session, DUK traded between $77.24 to $78.56 and has traded between $65.50 and $81.39 over the past 12 months. DUK shares are currently priced at 17.07x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.10x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $3.30 per share annually in dividends, yielding 4.29%. According to a consensus of 14 analysts, the earnings estimate of $1.14 per share would be $0.10 worse than the year-ago quarter and a $0.03 sequential decrease. What we find to be interesting is 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 $6.05 Billion. If realized, that would be a 0.17% decrease 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 by the analysts covering it is $79.53, which is 2.21% above where the stock opened. See more in (NYSE:DUK) Similar Articles: Stock Update (NYSE:DUK): Duke Energy Carolinas proposes more than $3 in monthly savings for customers in North Carolina 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) – Duke Energy, Piedmont Natural Gas file with North Carolina Utilities Commission for acquisition approval