KeyBanc analyst Sophie Karp maintains $DTE Energy (DTE.US)$ with a buy rating, and adjusts the target price from $136 to $138.
According to TipRanks data, the analyst has a success rate of 55.9% and a total average return of 5.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $DTE Energy (DTE.US)$'s main analysts recently are as follows:
The anticipation of a favorable outcome from the upcoming Michigan Public Service Commission meeting on November 7 is believed to potentially result in a beneficial rate order for DTE Gas's distribution rate case. This event could help narrow the current valuation gap that DTE Energy has in comparison to CMS Energy.
The company anticipates that investments in the Electric segment, which aim to enhance grid reliability and promote clean generation, will propel earnings in 2024. Additionally, DTE has reported year-over-year growth within its Gas and Vantage segments for the year-to-date in 2024. This growth trajectory is expected to persist, suggesting that DTE is well-positioned to capitalize on the rising demand trends in its service area and increased spending on resilience in Michigan. Operating within a supportive regulatory framework, the company is poised to maintain its momentum through 2024, which could justify a valuation that surpasses the sector's average.
The projection is for a 7.7% compound annual growth rate in earnings per share for the period 2024-28, which is in alignment with the guided range of 6%-8%. It is anticipated that DTE Vantage will see a growth rate slightly above $15M annually in earnings, or an 11% compound annual growth rate, through 2028. Nonetheless, current share prices seem to reflect these outcomes, which suggests a more favorable opportunity to enter the market could be forthcoming.
Note:
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