10 Stocks That Will Go to the Moon According to Reddit

7) DTE Energy Company (NYSE:DTE)

Number of hedge fund holders: 25

DTE Energy Company (NYSE:DTE), a diversified energy company, is engaged in developing and managing energy-related businesses and services nationwide. The Company generates, purchases, transmits, distributes, and sells electric energy.

DTE Energy Company (NYSE:DTE)’s long-term growth prospects stem from its extensive and well-established utility infrastructure. Its regulated utilities, DTE Electric and DTE Gas, continue to address a substantial customer base in Michigan, which includes economically significant regions of southeastern Michigan and Detroit.

DTE Energy Company (NYSE:DTE)’s strategic investments in renewable energy, like wind and solar, and the company’s plans to retire coal-fired power plants by 2032 should help it achieve growth over the next 10 years. Also, these goals align with the increased demand for environmentally responsible energy solutions. This should enhance the DTE Energy Company (NYSE:DTE)’s brand reputation. The company will be able to capitalize on the promising market for clean energy and related government incentives. Collectively, these drivers should lead to long-term growth and profitability.

DTE Energy Company (NYSE:DTE) has an opportunity to expand its renewable energy portfolio. Given the fact that the state of Michigan requires a 100% clean energy portfolio by the year 2040, the company appears to be well-placed to exploit existing investments in renewables and capitalize on this regulatory tailwind. It invested more than ~$2 billion in 1H 2024, on pace for a full-year investment of over $4 billion. The focus is on making electric and natural gas infrastructure more resilient.

Therefore, its strong financial health and constructive regulatory environment should support the company in generating healthy and stable cash flows.

Wells Fargo & Company upped their price objective on shares of DTE Energy Company (NYSE:DTE) from $125.00 to $133.00, giving it an “Overweight” rating on 26^th July.