On Oct 23, major Wall Street analysts update their ratings for $DTE Energy (DTE.US)$, with price targets ranging from $131 to $142.
Morgan Stanley analyst David Arcaro maintains with a buy rating, and adjusts the target price from $128 to $131.
J.P. Morgan analyst Jeremy Tonet maintains with a hold rating, and adjusts the target price from $130 to $142.
Jefferies analyst Julien Dumoulin Smith maintains with a hold rating, and maintains the target price at $137.
KeyBanc analyst Sophie Karp maintains with a buy rating, and adjusts the target price from $136 to $138.
Furthermore, according to the comprehensive report, the opinions of $DTE Energy (DTE.US)$'s main analysts recently are as follows:
Expectations are set for a constructive outcome from the forthcoming Michigan Public Service Commission meeting on November 7, which could influence DTE Energy's distribution rate case for DTE Gas and potentially reduce DTE's current valuation gap with CMS Energy.
The company anticipates that investments in the Electric segment, which focus on grid reliability and clean generation, will propel earnings in 2024. Additionally, DTE has observed its Gas and Vantage segments demonstrating year-over-year growth thus far into 2024. It is expected that this positive trajectory will persist, and the company is likely to gain from favorable load growth trends within its operational region along with heightened resilience spending in Michigan. These factors, within an accommodating regulatory framework, are anticipated to sustain momentum through 2024 and justify a valuation that exceeds the sector's average.
The expectation is for DTE Energy to achieve a 7.7% EPS compound annual growth rate through 2024-2028, which aligns with the company's guidance of 6%-8%. The energy company's non-utility business, DTE Vantage, is anticipated to expand slightly faster than $15M annually in earnings, translating to an 11% CAGR until 2028. Nevertheless, it seems that the current share price may already reflect these growth prospects, leading to a preference for a more opportune moment to invest.
Here are the latest investment ratings and price targets for $DTE Energy (DTE.US)$ from 4 analysts:
Note:
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