DTE Energy price target raised to $138 from $136 at KeyBanc

KeyBanc raised the firm’s price target on DTE Energy (DTE) to $138 from $136 and keeps an Overweight rating on the shares. The firm notes the company expects investments in the Electric segment supporting grid reliability and clean generation to drive earnings in 2024. DTE has also seen the Gas and Vantage segments experience year-over-year growth year-to-date in 2024. KeyBanc expects this trend to continue, and believes DTE should benefit from the positive load growth trends in its region and increased resilience spending in MI, while operating in a constructive regulatory environment to provide momentum through 2024, validating a premium to the sector average.