DTE Energy (DTE): 3 Positives Lift The PT to $103 - Jefferies

November 22, 2016 7:14 AM EST
Get Alerts DTE Hot Sheet
Price: $98.89 -0.31%

Rating Summary:
    10 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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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.

For an analyst ratings summary and ratings history on DTE Energy click here. For more ratings news on DTE Energy click here.

Shares of DTE Energy closed at $92.28 yesterday.

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