J.P. Morgan analyst Jeremy Tonet maintains $DTE Energy (DTE.US)$ with a hold rating, and adjusts the target price from $130 to $142.
According to TipRanks data, the analyst has a success rate of 60.0% and a total average return of 8.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $DTE Energy (DTE.US)$'s main analysts recently are as follows:
An analyst has highlighted a 'Positive Catalyst Watch' for DTE Energy shares in anticipation of the upcoming Michigan Public Service Commission meeting on November 7. It is expected that this meeting will result in a favorable rate order for DTE Gas's distribution rate case, which could potentially reduce DTE's current valuation gap compared to CMS Energy.
The company forecasts that investments in the Electric segment, which are focused on grid reliability and clean generation, will propel earnings in 2024. Year-over-year growth has been observed in both the Gas and Vantage segments so far in 2024. It is anticipated that this growth trajectory will persist. The company is expected to gain from favorable load growth trends within its area and heightened resilience expenditure in Michigan. Operating within a supportive regulatory framework is predicted to sustain momentum through 2024, justifying a valuation above the sector average.
Projections for DTE Energy indicate a 7.7% compound annual growth rate in earnings per share from 2024 to 2028, which aligns with the company's own projections of 6%-8%. It's anticipated that DTE Vantage will experience a growth slightly above $15 million annually in earnings, or an 11% compound annual growth rate, through 2028. Yet, the current share price seems to reflect these outcomes, leading to a preference for a more favorable entry point in the future.
Note:
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