Size and Visibility Improves for DTE Energy's Nonutility Investments
We are reaffirming our $107 per share fair value estimate after DTE Energy reported 2018 operating earnings in line with our estimate and reiterated 2019 earnings guidance. The company also announced its 50%-owned Nexus joint venture will acquire another midstream asset that is expected to be modestly accretive to earnings.Operating earnings were $6.30 per share in 2018, equal to our estimate and $0.03 lower than consensus. As expected, the full-year results for DTE’s electric and natural gas u...
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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