Stock News in Focus: DTE Energy (NYSE:DTE)

 DTE Energy (NYSE:DTE) spotted trading -3.64% off 52-week high price. On the other end, the stock has been noted 20.76% away from the low price over the last 52-weeks. The stock changed 0.17% to recent value of $129.48. The stock transacted 892071 shares during most recent day however it has an average volume of 1056.05K shares. The company has 183.87M of outstanding shares and 182.32M shares were floated in the market.  

 On Oct. 17, 2019, DTE Midstream, a non-utility business of DTE Energy (NYSE:DTE) reported it entered into an agreement to acquire a gathering system and gathering pipeline in the Haynesville shale formation of Louisiana for a purchase price of $2.25 billion in cash, plus a $400 million milestone payment upon completion of the gathering pipeline in the second half of 2020. Under the terms of the agreement, DTE will acquire 100 percent of the assets from Momentum Midstream and Indigo Natural Resources, the primary gas producer supplying the system. Assets that are part of the acquisition include an existing gathering system and a 150-mile gathering pipeline under construction, which will be in service in the second half of 2020. The primary assets gather natural gas produced in the Haynesville shale basin and access multiple major downstream pipelines, including those serving the Gulf Coast.

DTE’s non-utility operations continue to grow, perform well and fit nicely into our planned utility and non-utility mix, said Jerry Norcia, president and CEO of DTE Energy. This acquisition significantly enhances the strength and diversity of DTE Midstream, adding premium assets in one of the fastest growing and best positioned U.S. shale formations. The successful operation of the Link asset, also purchased from Momentum, demonstrates the operating expertise and value creation DTE Midstream brings to this new system. In addition, the company gains a strong commercial partner in Indigo, one of the nation’s largest private natural gas producers supplying the rapidly growing demand in the Gulf Coast region.

 Its earnings per share (EPS) expected to touch remained 9.70% for this year while earning per share for the next 5-years is expected to reach at 4.45%. DTE has an operating margin of 11.70% while its profit margin remained 8.10% for the last 12 months. 

 According to the most recent quarter its current ratio was 0.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.47% from the mean of 20 days, -0.61% from mean of 50 days SMA and performed 3.32% from mean of 200 days price. Company’s performance for the week was -0.62%, -1.63% for month and YTD performance remained 17.39%.

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