DTE Reports Strong 3Q; Nexus Pipeline Goes Into Service
We are increasing our fair value estimate to $107 from $103 per share after DTE Energy reported strong 2018 third-quarter earnings, increased 2018 earnings guidance, and indicated the Nexus pipeline was placed into service.Although Nexus capacity agreements are now mostly short-term, we are confident that current agreements will be replaced with long-term contracts over the next few years based on DTE’s track record at contracting pipeline capacity. DTE owns 50% of the $2 billion, 256-mile pipe...
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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