Barclays downgraded DTE Energy (DTE) to Equal Weight from Overweight with a price target of $135, down from $137. The firm reshuffled its preferences in Michigan utilities following the Q4 earnings, now seeing CMS (CMS) as the preferred way to invest in the state’s “premium” regulatory environment. DTE eventually needs to deal with the renewable natural gas tax credit roll-off, which will require an acceleration of rate base growth, capex ramp, additional equity, and increased leverage to maintain it’s outlook closer to the midpoint, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DTE:
- DTE Energy price target raised to $135 from $125 at BMO Capital
- DTE Energy: Balancing Growth Prospects and Current Valuation with a Hold Rating
- DTE Energy Sets 2025 Incentive Plans for Executives
- DTE Energy price target raised to $139 from $135 at Guggenheim
- DTE Energy’s Strong Financial Performance and Strategic Initiatives Drive Buy Rating
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue