DTE Energy Again Bumps Earnings Guidance
We are reaffirming our $87 per share fair value estimate and stable, narrow moat ratings for DTE Energy after the company reported third-quarter earnings and again raised 2017 earnings guidance. Operating EPS for the recently ended quarter were $1.48 versus $1.96 in the same period last year. However, most of the negative variance was due to the impact of mild summer weather versus last year and the timing of income taxes. Overall, we thought the results were solid.For the second straight qua...
DTE Energy is a holding company. The company is engaged in the generation, purchase, distribution and sale of electricity to customers in southeastern Michigan through its DTE Electric Company subsidiary, as well as in the purchase, storage, transportation, distribution and sale of natural gas throughout Michigan and the sale of storage and transportation capacity through its DTE Gas Company subsidiary. The company's non-utility operations are: gas storage and pipelines, which consists of natural gas pipeline, gathering, transportation, and storage businesses; power and industrial projects; and energy trading, which consists of energy marketing and trading operations.
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