12 Best Electrical Infrastructure Stocks to Buy According to Analysts

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8. DTE Energy Company (NYSE:DTE)  

Average Analyst Upside: 10.68%

Number of Hedge Fund Holders: 32

DTE Energy Company (NYSE:DTE), Michigan’s largest utility provider, develops and manages energy-related businesses, serving approximately 2.3 million customers in Southeast Michigan through its 11,084-megawatt electric system capacity. Additionally, the company is expanding its reach beyond traditional utility operations, with a strong focus on its Vantage platform, which delivers renewable energy and industrial energy services. Moreover, DTE Energy Company (NYSE:DTE) is targeting the data center market as well, citing significant opportunities and strong interest from hyperscale operators.

On December 3, UBS upgraded DTE Energy Company (NYSE:DTE) from Neutral to Buy, raising the price target to $143 from $129, citing a market mispricing of DTE’s strengths, particularly within Michigan’s regulatory environment. The firm emphasized the improving outlook for DTE’s utility EPS, which makes up 86% of its business, driven by reduced regulatory risks and projected rate base growth, expected to exceed the current 8% due to strategic resource planning and delivery investments.

DTE Energy Company (NYSE:DTE) reported strong Q3 results, with adjusted earnings per share of $2.22, supported by higher electric rates, favorable weather, and tax timing benefits. Operating earnings reached $460 million, fueled by increased DTE Electric performance. Additionally, the company launched the Sauk Solar Park, Michigan’s largest solar installation, which will provide clean energy to 40,000 homes.

As of Q3 2024, 32 hedge funds held stakes in DTE Energy Company (NYSE:DTE), with a combined investment of $560 million.

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