DTE Energy: Our future is sun, wind, natural gas and nuclear

DTE said it plans to build an additional 6,000 MW of renewable energy capacity – enough to supply almost 2 million homes – supplementing the 1,000 MW of renewable energy it has built since 2009. It is also investing steadily to enhance its renewable generation assets.

DTE’s operating units include an electric utility serving 2.2 million customers in southeastern MI and a natural gas utility serving 1.3 million customers in MI. “That said increasingly stringent government regulations for curbing emissions and operational risks are major causes of concern”.

DTE has been the topic of several research analyst reports.

“We need to lead by example by reducing water and energy use at DTE as we work with customers to do the same”, Anderson said. Finally, Barclays PLC reiterated an overweight rating and issued a $115.00 price objective (up previously from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. 664993 shares were traded on DTE Energy Company’s last session. They issued a neutral rating and a $102.00 price objective for the company. The solar project DTE recently completed in Lapeer, Mich., is among the largest solar fields east of the Mississippi River, according to the energy company.

Among 9 analysts covering Watsco (NYSE:WSO), 7 have Buy rating, 2 Sell and 0 Hold. Jefferies Group LLC upped their target price on shares of DTE Energy to $108.50 in a research report on Friday, February 10th.

Additionally, DTE Energy faces intense competition from other utilities in the market like CenterPoint Energy, Inc. About 218,852 shares traded. The company’s 50-day moving average price is $103.56 and its 200 day moving average price is $98.97. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. The company has a market capitalization of $18.87 billion, a price-to-earnings ratio of 18.51 and a beta of 0.20. To successfully achieve this, the energy provider plans to transition its 24/7 power sources from coal to natural gas and continue to operate its zero-emission Fermi 2 power plant, which will thereby incorporate substantially more renewable energy. The utilities provider reported $1.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.22. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $2.93 billion.

The stock of DTE Energy Co (NYSE:DTE) reached all time high today, May, 15 and still has $114.39 target or 8.00% above today’s $105.92 share price. The business’s revenue for the quarter was up 26.1% compared to the same quarter past year. Analysts anticipate that DTE Energy will post $5.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. This represents a $3.30 annualized dividend and a dividend yield of 3.12%. DTE Energy’s dividend payout ratio (DPR) is now 68.46%.

And FirstEnergy Corp. previous year set an aggressive goal to curb its carbon emissions by at least 90% below 2005 levels by 2045, even though 56% of its power mix is coal-fired. If you are reading this report on another publication, it was illegally copied and reposted in violation of worldwide trademark and copyright law.

In related news, Chairman Gerard M. Anderson sold 17,000 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $104.21, for a total transaction of $395,998.00. Following the completion of the sale, the chairman now owns 93,000 shares of the company’s stock, valued at approximately $9,131,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The shares were acquired at an average cost of $98.02 per share, with a total value of $65,967.46. Following the transaction, the insider now owns 10,117 shares of the company’s stock, valued at approximately $1,054,292.57. The disclosure for this sale can be found here. Insiders sold 49,571 shares of company stock worth $5,007,902 over the last quarter. Teacher Retirement Of Texas has invested 0.3% of its portfolio in DTE Energy Co (NYSE:DTE). Nordea Investment Management AB now owns 1,270,285 shares of the utilities provider’s stock valued at $118,988,000 after buying an additional 398,404 shares during the last quarter. LeJeune Puetz Investment Counsel LLC acquired a new position in DTE Energy during the fourth quarter worth about $119,000. State Street Corp raised its stake in DTE Energy by 1.4% in the first quarter.