Market Overview

Energy Law Changes In Michigan Could Lead To Expansion For DTE Energy


In a report published Tuesday, Deutsche Bank analyst Jonathan Arnold reiterated a Hold rating on DTE Energy Co (NYSE: DTE), and raised the price target from $82.00 to $87.00.

In the report, Deutsche Bank noted, "With a solid growth plan in place, our focus for DTE is on potential changes to Michigan's energy law and opportunities to expand the midstream business. On Michigan, DTE seemed bullish on prospects for a constructive resolution to electric choice and a shift toward cleaner energy, potentially as soon as Q2."

The report continued, "In our view, DTE continues to execute at a high level, and we see potential for upside in the event Michigan ups their state renewables standard, further restricts choice, or DTE takes a greater share in the planned NEXUS pipeline. The recent pullback has moved valuation towards a more reasonable level although the sector directional trade continues to be macro dependent."

DTE Energy Co closed on Friday at $81.56.

Latest Ratings for DTE

Jan 2021Evercore ISI GroupUpgradesIn-LineOutperform
Jan 2021Morgan StanleyMaintainsEqual-Weight
Jan 2021Credit SuisseMaintainsNeutral

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