DTE Reports Strong 2Q and Hints at Large Pipeline Acquisition; Raising FVE to $103
We are increasing our fair value estimate to $103 per share from $97 after DTE Energy reported strong 2018 second-quarter earnings in every segment, increased 2018 earnings guidance, and indicated that the Link pipeline is experiencing volumes and investments well ahead of previously disclosed forecasts.The second-quarter performance and the positive comments about investment opportunities give us additional confidence that earnings growth from nonutility businesses will more than replace the R...
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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