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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

Capital Allocation

PREMIUM

DTE Energy Reports Strong Second-Quarter Earnings and Makes Upbeat Comments About Rate Base Growth

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are increasing our fair value estimate to $112 per share from $109 after DTE Energy reported strong 2021 second-quarter earnings, raised 2021 earnings guidance, and was upbeat about rate base growth and opportunities in its non-regulated Power & Industrial segment. DTE reported $1.70 operating EPS in the second quarter up from $1.53 in the same period last year. However, roughly half of the positive variance was in the Gas Storage & Pipeline segment that was spun off on July 1.

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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 nonutility businesses and investments including energy marketing and trading, renewable natural gas facilities, 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, 2021
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 10,600

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