We are reaffirming our $119 per share fair value estimate for DTE Energy after the company reported $1.67 per share of operating earnings during the first quarter, up from $1.33 during the first quarter of 2023. We are reaffirming our narrow moat rating.
Shareholders received a 7% annual dividend increase for 2024. We expect similar annual dividend growth for the foreseeable future.
Although changes to Michigan's regulatory framework were signed into law in late 2016, DTE still faces regulatory lag based on the timing of rate case filings.
|
Metric
|
DTE
|
WEC
|
XEL
|
|---|---|---|---|
Price/Earnings (Normalized) | 18.26 | 17.88 | 15.75 |
Price/Book Value | 2.05 | 2.23 | 1.70 |
Price/Sales | 1.87 | 2.94 | 2.19 |
Price/Cash Flow | 7.54 | 9.40 | 6.84 |
|
Metric
|
DTE
|
WEC
|
XEL
|
|---|---|---|---|
Quick Ratio | 0.31 | 0.30 | 0.48 |
Current Ratio | 0.60 | 0.55 | 0.86 |
Interest Coverage | 2.91 | 3.11 | 2.63 |
|
Metric
|
DTE
|
WEC
|
XEL
|
|---|---|---|---|
Return on Assets (Normalized) | 2.84% | 3.40% | 2.95% |
Return on Equity (Normalized) | 11.51% | 12.56% | 10.73% |
Return on Invested Capital (Normalized) | 6.14% | 6.97% | 6.04% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
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SO
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NGG
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AEP
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PCG
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D
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EXC
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PEG
| Public Service Enterprise Group Inc | Qccvdcdw | Xnjcwt | $33.8 Bil | |
ED
| Consolidated Edison Inc | Wvfzyfqm | Czrxv | $32.1 Bil |
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