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DTE Energy Co DTE

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Stewardship

PREMIUM

Improving Outlook for DTE Energy's Gas, Storage & Pipeline Business; Increasing Fair Value Estimate

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are increasing our fair value estimate for narrow-moat DTE Energy to $120 per share from $116 after the company reported 2020 second-quarter operating earnings and reaffirmed earnings and capital expenditure guidance. EPS for the recently ended quarter were $1.53 versus $0.99 in the same period last year. The strong results were due primarily to favorable weather, pension plan investment gains, and rate increases at the utilities. The Gas, Storage & Pipeline business benefited from the Blue Union acquisition.

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Company Profile

Business Description

DTE Energy owns two regulated utilities in Michigan. DTE Electric serves approximately 2.2 million customers in southeastern Michigan including Detroit. DTE Gas serves 1.3 million customers throughout the state. In addition, DTE has material nonutility businesses and investments including energy marketing and trading, natural gas pipelines, gathering and storage, and on-site industrial energy projects.

Contact
One Energy Plaza
Detroit, MI, 48226-1279
T +1 313 235-4000
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2019
Stock Type High Yield
Employees 15,600

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