trending Market Intelligence /marketintelligence/en/news-insights/trending/Tkgdl2S9ub4_Np32TTPLsQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

S&P Capital IQ upgrades DTE Energy, sees CapEx boosting EPS

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


S&P Capital IQ upgrades DTE Energy, sees CapEx boosting EPS

S&P Capital IQ on April 26 upgraded its investment optionon DTE Energy Co. to "hold"from "sell" and increased the 12-month target price to $84 from $81, basedon its positive view of the company shares.

"We believe DTE's capitalspending program will boost future EPS and see the shares as fairlyvalued," S&P Capital analyst Christopher Muir said in a note to investors.The analyst raised the price target due to higher peer valuations.

Muir reduced his 2016 EPS estimate by 3 cents to $4.93, and the2017 EPS estimate was lowered by 2 cents to $5.26.

DTE Energy postedlower utility earnings for the first quarter of 2016 driven by warmer weather, andits EPS of $1.52 for the most recent quarter beat the S&P Capital IQ normalizedEPS consensus estimate of $1.49.

The company said it plans to spend at least $6.5 billion overthe next decade to replace aging electric infrastructure, while in the gas segment,DTE is planning to spend $600 million over the next five years, and it has cut inhalf the time that it expects to need to replace 4,000 miles of cast iron and unprotectedmain steel.

S&P Capital IQ andS&P Global Market Intelligence are owned by McGraw Hill Financial Inc.