DTE Energy To Trade In A Narrow Band In Near Term: Analyst Explains Why
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst James M. Thalacker has reiterated the Market Perform rating on DTE Energy Company, but lowered the price target to $106 from $125. Thalacker expects DTE shares to trade in a narrow band in the near term due to the size of the current electric rate case. Challenges to offset the 2022 rate case with one-time cost savings and storm-related costs are adding pressure to its mitigation efforts. The analyst also mentioned the importance of regulatory certainty in supporting the multiple rerates.
October 06, 2023 | 6:52 pm
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DTE Energy's shares are expected to trade in a narrow band in the near term due to the size of the current electric rate case. The company's mitigation efforts are under pressure due to challenges in offsetting the 2022 rate case with one-time cost savings and storm-related costs.
The analyst from BMO Capital Markets expects DTE Energy's shares to trade in a narrow band in the near term due to the size of the current electric rate case. This is likely to limit the stock's price movement. Additionally, the company's mitigation efforts are under pressure due to challenges in offsetting the 2022 rate case with one-time cost savings and storm-related costs. This could potentially impact the company's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100