DTE Energy (DTE) Shares Get Boost From Credit Suisse
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Price: $110.12 --0%
Rating Summary:
15 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
15 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Shares of DTE Energy Co. (NYSE: DTE) are trading at 52.26, up $0.82 (+1.59%) after Credit Suisse upgraded the stock from Neutral to Outperform this morning. The stock is only $0.74 away from a 52-wk high (range $43.22-53.00).
Barclays may not feel as strongly on DTE as Credit Suisse, and back on Oct 24, 2011, downgraded shares to Equalweight...moving to the sidelines as they felt 2012's outlook was in-line.
Barclays analyst said, "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."
Currently DTE's annual dividend equals $2.35 (approx. 4.60%) and the company generated $8.9 billion in revenues last year. The current market cap is $8.83 billion.
Barclays may not feel as strongly on DTE as Credit Suisse, and back on Oct 24, 2011, downgraded shares to Equalweight...moving to the sidelines as they felt 2012's outlook was in-line.
Barclays analyst said, "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."
Currently DTE's annual dividend equals $2.35 (approx. 4.60%) and the company generated $8.9 billion in revenues last year. The current market cap is $8.83 billion.
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