Barclays Maintains an 'Equalweight' on DTE Energy (DTE); 2012 Outlook In-Line
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Price: $140.84 +0.94%
Rating Summary:
17 Buy, 11 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on DTE Energy (NYSE: DTE) price target of $53.00.
Barclays analyst says, "Our biggest takeaways from the updated outlook: Due to increased spending across the company, DTE expects to do $300M of equity annually in '12-'14. In addition, the expected monetization of Barnett in '12/'13 (~$300M) helps to offset what would be an additional financing need. Further, the company gave greater detail on the REF business, expecting $25M in their base case for '12, with another large uptick in '13 as facilities are relocated. For background, to maximize the economics to DTE, the company needs to place the facilities where tons of coal processed per year is maximized."
"We still believe DTE can hit their 5-6% EPS and dividend growth rate: We are
adjusting our '11-'13 EPS ests to $3.61/$3.72/$3.95 from $3.54/$3.64/$3.90 and
dropping our PT to $53 from $54. Methodology is below. The biggest change to our forecast was lower parent expenses due to an attractive refinancing and natural deleveraging."
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 $52.26 yesterday.
Barclays analyst says, "Our biggest takeaways from the updated outlook: Due to increased spending across the company, DTE expects to do $300M of equity annually in '12-'14. In addition, the expected monetization of Barnett in '12/'13 (~$300M) helps to offset what would be an additional financing need. Further, the company gave greater detail on the REF business, expecting $25M in their base case for '12, with another large uptick in '13 as facilities are relocated. For background, to maximize the economics to DTE, the company needs to place the facilities where tons of coal processed per year is maximized."
"We still believe DTE can hit their 5-6% EPS and dividend growth rate: We are
adjusting our '11-'13 EPS ests to $3.61/$3.72/$3.95 from $3.54/$3.64/$3.90 and
dropping our PT to $53 from $54. Methodology is below. The biggest change to our forecast was lower parent expenses due to an attractive refinancing and natural deleveraging."
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 $52.26 yesterday.
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