Jefferies Starts Coverage of DTE Energy Company Corporate Bond with a Hold Rating

Analysts Expect Moderate Price Growth

On October 21, 2024, Jefferies initiated coverage of DTE Energy Company – Corporate Bond (NYSE:DTB) with a Hold recommendation. The average one-year price target for this bond, as of September 25, 2024, is $22.58 per share. Predicted targets range from a low of $20.89 to a high of $24.59, suggesting a potential upside of 6.83% based on the most recent closing price of $21.14 per share.

DTE Energy’s Revenue Looks Promising

The projected annual revenue for DTE Energy Company – Corporate Bond is set at $16,277 million, showing an impressive increase of 31.30%. Analysts project an annual non-GAAP EPS of 6.76.

Institutional Interest in DTE Energy

Currently, 12 funds or institutions hold positions in DTE Energy Company – Corporate Bond, reflecting a decrease of 2 owners, or 14.29%, in the last quarter. The average portfolio weight of all related funds in DTB has risen by 26.89% to 0.12%. However, total shares owned by institutions have decreased by 9.08% over the past three months, dropping to 1,648,000 shares.

Fund Holdings and Changes

PFF – iShares Preferred and Income Securities ETF currently holds 943,000 shares, up from 895,000 shares previously, indicating a 5.11% increase. They raised their portfolio allocation to DTB by 3.21% last quarter.

PGX – Invesco Preferred ETF holds 348,000 shares, down from 357,000 shares, showing a 2.31% decrease in holdings. Their portfolio allocation has decreased by 4.19%.

NRIAX – Nuveen Real Asset Income Fund possesses 145,000 shares, down from 152,000 shares, which is a decrease of 4.82%. This fund also reduced its portfolio allocation to DTB by 6.57%.

FSDIX – Fidelity Strategic Dividend & Income Fund maintains its holding of 100,000 shares with no changes last quarter.

Nuveen Real Asset Income & Growth Fund holds 73,000 shares, with no change as well.

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