DTE Energy Co DTE:NYSE

Last Price$129.16NYSE Previous Close - Last Trade as of 7:00PM ET 7/01/22

Today's Change+2.41(1.90%)
Bid (Size)$76.08 (1)
Ask (Size)$132.00 (1)
Day Low / High$126.47 - 129.37
Volume1.0 M

Research Alert: CFRA Maintains Hold Opinion On Shares Of Dte Energy Company

12:30PM ET 4/28/2022 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target $1 to $140, 23.3x our 2022 adj. EPS estimate (widened $0.08 to $6.00; 2023's remains $6.27), above DTE's historical range but in line with current multi-utility peer valuations. DTE posts Q1 adj. EPS of $2.31 vs. $2.44, $0.23 above consensus forecasts, as higher gas rates, better performance in the energy trading business, and favorable tax timing outweighed unfavorable weather and lower margins at the electric utility. Weather-adjusted electric sales to commercial customers rose 2% vs. prior-year quarter, while residential and industrial sales declined 1% and 2%, respectively, leading to flat overall sales Y/Y. Despite better than expected results, DTE retained its current earnings guidance, recently raised in Q4 2021. We continue to monitor the ongoing electric rate case and expect DTE to file its next integrated resource plan in the fall, providing more detail on projected capital spending and more clarity on DTE's longer-term clean energy transition. Shares yield 2.6%.