UPDATE: Wolfe Research Downgrades DTE Energy (DTE) to Peerperform

April 19, 2021 5:52 AM EDT
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Price: $142.23 -1.33%

Rating Summary:
    11 Buy, 12 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 26 | Down: 19 | New: 41
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(Updated - April 19, 2021 5:54 AM EDT)

Wolfe Research analyst Steve Fleishman downgraded DTE Energy (NYSE: DTE) from Outperform to Peerperform with a price target of $139.00 (from $128.00).

The analyst comments "We still view DTE as a high-quality company with premium utilities and a solid midstream business that should be better valued on its own. However, the pro forma entity has already re-rated to a CMS multiple and the midstream entity could face fund flow pressures as the spin nears. After 13% outperformance into and subsequent to the spin announcement, we’re moving to the sidelines."

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 $140.68 yesterday.

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