Strong growth at DTE's Michigan utilities and pipelines offsets declining REF earnings.
We are reaffirming our $94 per share fair value estimate and stable, narrow moat ratings for DTE Energy after the company reported strong 2017 earnings and raised 2018 earnings guidance. Operating EPS for the recently ended quarter were $5.59, $0.07 higher than consensus and $0.09 above our estimate. The better-than-expected results were across the board. Both utilities and DTE’s unregulated businesses beat our estimates for the full year.Because of the passage of tax reform, DTE increased its ...
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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