UPDATE: Wunderlich Securities Raises DTE Energy PT To $54

Wunderlich Securities raised its DTE Energy

price target from $52 to $54 in a research report published today. Wunderlich Securities has a Hold rating on DTE Energy shares. In the report, Wunderlich Securities states, "Michigan regulators approved a $175M electric rate increase for Hold-rated DTE Energy (

) yesterday. The order was based on a 10.5% allowed ROE, which was generally in line with investor expectations (10.5%-10.75%), but lower than the company's current 11.0% allowed ROE. From a broader perspective, we wonder whether the stance taken in Michigan could signify the beginning of a trend toward lower allowed ROEs in other states." Shares of DTE Energy were trading at $51.73 at the time of posting, up 0.80% from Thursday's market close.