UBS Raises Price Target on DTE Energy (DTE) to $112; Reiterates Buy
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
UBS reiterated a Buy rating on DTE Energy (NYSE: DTE), and raised the price target to $112.00 (from $108.00), following announce public offering.
Analyst Julien Dumoulin-Smith commented, "Providing limited EPS benefits through 2019 despite employing equity units, which limits the near-term dilutive impact, the deal has limited impacts to the company through the medium-term despite the $1.3 Bn price tag. While complementary to existing midstream efforts, the transaction price is more surprising than the strategic logic in pursuing the deal. Total 1+Bcf/d potential expansion highlights increased confidence around growth targets and we expect EEI update to provide both an updated capex plan and increased CAGR targets."
Shares of DTE Energy closed at $94.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Cowen Downgrades Under Armour, Inc. (UA) to Market Perform
- New Oriental Education (EDU) PT Raised to $60 at Brean Capital
- Leerink Partners Cuts Price Target on Cynosure (CYNO) Following Solid 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!