DTE Energy (DTE): 3 Positives Lift The PT to $103 - Jefferies
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Jefferies analyst, Anthony Crowdell, reiterated his Buy rating on shares of DTE Energy (NYSE: DTE) after November produced several positives for DTE.
On 11/21, the ALJ issued a proposed decision in DTE Electric's rate case, recommending a $187M rate increase predicated on a 10.0% ROE.
2)Energy legislation passing in the Michigan Senate, MISO filing for a 3-year forward capacity auction
3) TransCanada cancelled an open season on a pipe competing with NEXUS
The price target increases to $103 from $102 based on a 2019 EPS estimate of $6.10 in conjunction with a 16.8x P/E multiple. This represents a 10% premium to the large cap group average.
Shares of DTE Energy closed at $92.28 yesterday.
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