DTE Energy Co. (DTE)
by Zacks Equity Research
August 17, 2012 | Comments :
Recommended this article: (0)
This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext. 9339.
We are upgrading our long-term recommendation on
DTE Energy Co. (
DTE) to Outperform after a resounding bottom-line beat in the second quarter, which fully offset the effects of a flat top-line. The bottom-line was helped by significant demand for electricity due to record high temperatures and ongoing utility capex programs.
Our bullish outlook for DTE Energy is supported by its stable and growing utilities and non-utilities businesses. Going forward, the growth momentum will be maintained by beneficial regulatory policies in Michigan, higher authorized rates for its regulated business, growth opportunities in its un-regulated businesses and an industry-high dividend yield.
There are also plans to monetize its Barnett Shale assets and other properties, which would alleviate the need for external borrowings. Our six-month target price of $73.00 equates to about 19.0x our earnings estimate for 2012.
This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext. 9339.
Our bullish outlook for DTE Energy is supported by its stable and growing utilities and non-utilities businesses. Going forward, the growth momentum will be maintained by beneficial regulatory policies in Michigan, higher authorized rates for its regulated business, growth opportunities in its un-regulated businesses and an industry-high dividend yield.
There are also plans to monetize its Barnett Shale assets and other properties, which would alleviate the need for external borrowings. Our six-month target price of $73.00 equates to about 19.0x our earnings estimate for 2012.
Read the full Analyst Reporton DTE