KeyBanc analyst Sophie Karp downgraded DTE Energy (DTE) to Sector Weight from Overweight without a price target The firm sees to reduce exposure to Michigan. While DTE is a fundamentally strong utility with an attractive portfolio of businesses, recent regulatory outcomes in Michigan “have been unnerving to investors,” the analyst tells investors in a research note. The firm believes the trend to gradually reduce returns on equity and equity layer, witnessed in the latest ruling, is poorly timed given the situation it is observing in the capital markets.
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Read More on DTE:
- DTE Energy upgraded to Buy from Neutral at UBS
- DTE Energy price target lowered to $128 from $131 at Morgan Stanley
- DTE Energy announces additional $100M investment to rebuild electric grid
- Barclays remains Buy on DTE Energy on weakness
- Jefferies power/utilities analysts hold an analyst/industry conference call
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
