DTE Energy Co. (DTE) - Bull of the Day

By
A A A

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.
 
DTE ENERGY CO (DTE): Free Stock Analysis Report
 
To read this article on Zacks.com click here.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: DTE

Zacks.com

Zacks.com

More from Zacks.com:

Related Videos

Stocks

Referenced

100%

Most Active by Volume

61,354,178
  • $10.59 ▲ 13.26%
57,732,182
  • $16.27 ▲ 1.12%
51,991,548
  • $103.30 ▲ 0.78%
48,129,834
  • $20.65 ▲ 5.52%
41,623,916
  • $12.63 ▲ 8.13%
34,295,241
  • $76.68 ▲ 2.49%
31,519,079
  • $34.57 ▼ 1.00%
28,847,879
  • $3.64 ▲ 0.28%
As of 9/2/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com