Evercore ISI analyst Durgesh Chopra raised the firm’s price target on DTE Energy to $116 from $108 and keeps an Outperform rating on the shares after the Michigan Public Service Commission authorized DTE to increase annual base rates by $368M effective December 15. The firm views this as a positive outcome for DTE and one that “should assuage investor concerns around the regulatory environment in Michigan,” the analyst tells investors.
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Read More on DTE:
- Michigan approves $368M rate increase for DTE Energy customers
- DTE Energy reduces customers’ bills by passing on $300 million savings in fuel and transportation costs
- DTE Energy to reduce Power Supply Cost Recovery mechanism
- DTE Energy price target lowered to $106 from $109 at Barclays
- DTE Energy price target lowered to $106 from $121 at Mizuho