DTE Energy Announces Equity Units Offering
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DTE Energy (DTE) Issued, Sold 13.5M Equity Units for $675M
October 5, 2016 4:25 PM EDTDTE Energy (NYSE: DTE) disclosed the following in a U.S. SEC filing on Tuesday:
Item 8.01. Other Events.
On October 5, 2016, DTE Energy Company (the Company) issued and sold 13,500,000 Equity Units, initially consisting of Corporate Units (the Corporate Units), for an aggregate stated amount of $675 million, as more fully described below, pursuant to an Underwriting Agreement, dated September 29, 2016, between the Company and the several Underwriters named in Schedule I thereto (the Units Underwriting Agreement), for whom Wells Fargo Securities, LLC acted as representative.
Also on October 5, 2016, the Company issued and sold $400,000,000 aggregate... More
DTE Energy (DTE) Prices 12M Equity Units Offering
September 30, 2016 6:16 AM EDTDTE Energy Company (NYSE: DTE) announced that it has priced its offering of 12 million equity units.
Each equity unit will be issued in a stated amount of $50 ($600 million aggregate stated amount) and will consist of a contract to purchase common stock in the future and a 1/20, or 5%, undivided beneficial ownership interest in DTE's 2016 Series C remarketable senior notes due 2024 having a principal amount of $1,000. The remarketable senior notes are subject to remarketing to commence no earlier than June 27, 2019. The offering is expected to close on or about Oct. 5, 2016, subject to customary closing... More
UBS Raises Price Target on DTE Energy (DTE) to $112; Reiterates Buy
September 29, 2016 7:42 AM EDTUBS 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... More
