Intrinsic value of DTE Energy - DTE

Previous Close

$119.05

  Intrinsic Value

$26.20

stock screener

  Rating & Target

str. sell

-78%

Previous close

$119.05

 
Intrinsic value

$26.20

 
Up/down potential

-78%

 
Rating

str. sell

We calculate the intrinsic value of DTE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 21.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.60
  10.04
  9.54
  9.08
  8.67
  8.31
  7.98
  7.68
  7.41
  7.17
  6.95
  6.76
  6.58
  6.42
  6.28
  6.15
  6.04
  5.93
  5.84
  5.76
  5.68
  5.61
  5.55
  5.50
  5.45
  5.40
  5.36
  5.33
  5.29
  5.26
Revenue, $m
  13,943
  15,343
  16,806
  18,333
  19,923
  21,578
  23,299
  25,088
  26,947
  28,879
  30,887
  32,974
  35,144
  37,402
  39,751
  42,197
  44,745
  47,400
  50,168
  53,056
  56,070
  59,217
  62,505
  65,940
  69,532
  73,288
  77,218
  81,330
  85,635
  90,142
Variable operating expenses, $m
  12,014
  13,188
  14,415
  15,696
  17,030
  18,419
  19,862
  21,363
  22,923
  24,544
  25,912
  27,663
  29,484
  31,378
  33,349
  35,401
  37,538
  39,765
  42,088
  44,511
  47,039
  49,680
  52,437
  55,320
  58,333
  61,484
  64,781
  68,231
  71,842
  75,624
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  12,014
  13,188
  14,415
  15,696
  17,030
  18,419
  19,862
  21,363
  22,923
  24,544
  25,912
  27,663
  29,484
  31,378
  33,349
  35,401
  37,538
  39,765
  42,088
  44,511
  47,039
  49,680
  52,437
  55,320
  58,333
  61,484
  64,781
  68,231
  71,842
  75,624
Operating income, $m
  1,930
  2,155
  2,391
  2,637
  2,893
  3,159
  3,437
  3,725
  4,024
  4,335
  4,975
  5,311
  5,661
  6,024
  6,403
  6,796
  7,207
  7,634
  8,080
  8,546
  9,031
  9,538
  10,067
  10,621
  11,199
  11,804
  12,437
  13,099
  13,793
  14,519
EBITDA, $m
  3,308
  3,640
  3,987
  4,349
  4,726
  5,119
  5,527
  5,952
  6,393
  6,851
  7,327
  7,823
  8,337
  8,873
  9,430
  10,011
  10,615
  11,245
  11,902
  12,587
  13,302
  14,048
  14,828
  15,643
  16,495
  17,386
  18,319
  19,294
  20,315
  21,385
Interest expense (income), $m
  448
  697
  837
  983
  1,135
  1,293
  1,459
  1,631
  1,809
  1,995
  2,189
  2,390
  2,598
  2,815
  3,041
  3,275
  3,520
  3,774
  4,039
  4,315
  4,602
  4,903
  5,216
  5,543
  5,885
  6,242
  6,615
  7,006
  7,414
  7,842
  8,289
Earnings before tax, $m
  1,232
  1,318
  1,408
  1,502
  1,600
  1,701
  1,806
  1,915
  2,029
  2,147
  2,585
  2,713
  2,845
  2,983
  3,127
  3,277
  3,433
  3,596
  3,766
  3,943
  4,128
  4,322
  4,524
  4,736
  4,957
  5,189
  5,431
  5,685
  5,951
  6,230
Tax expense, $m
  333
  356
  380
  406
  432
  459
  488
  517
  548
  580
  698
  732
  768
  806
  844
  885
  927
  971
  1,017
  1,065
  1,115
  1,167
  1,222
  1,279
  1,338
  1,401
  1,466
  1,535
  1,607
  1,682
Net income, $m
  900
  962
  1,028
  1,097
  1,168
  1,242
  1,318
  1,398
  1,481
  1,567
  1,887
  1,980
  2,077
  2,178
  2,283
  2,392
  2,506
  2,625
  2,749
  2,878
  3,014
  3,155
  3,303
  3,457
  3,619
  3,788
  3,965
  4,150
  4,344
  4,548

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  37,382
  41,135
  45,057
  49,150
  53,413
  57,850
  62,464
  67,260
  72,245
  77,424
  82,807
  88,403
  94,221
  100,273
  106,572
  113,129
  119,959
  127,078
  134,500
  142,242
  150,323
  158,760
  167,573
  176,784
  186,413
  196,483
  207,018
  218,043
  229,584
  241,669
Adjusted assets (=assets-cash), $m
  37,382
  41,135
  45,057
  49,150
  53,413
  57,850
  62,464
  67,260
  72,245
  77,424
  82,807
  88,403
  94,221
  100,273
  106,572
  113,129
  119,959
  127,078
  134,500
  142,242
  150,323
  158,760
  167,573
  176,784
  186,413
  196,483
  207,018
  218,043
  229,584
  241,669
Revenue / Adjusted assets
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
Average production assets, $m
  24,108
  26,528
  29,058
  31,697
  34,447
  37,308
  40,284
  43,377
  46,592
  49,932
  53,404
  57,012
  60,765
  64,668
  68,730
  72,959
  77,364
  81,955
  86,741
  91,734
  96,946
  102,387
  108,071
  114,011
  120,221
  126,715
  133,509
  140,619
  148,063
  155,856
Working capital, $m
  892
  982
  1,076
  1,173
  1,275
  1,381
  1,491
  1,606
  1,725
  1,848
  1,977
  2,110
  2,249
  2,394
  2,544
  2,701
  2,864
  3,034
  3,211
  3,396
  3,589
  3,790
  4,000
  4,220
  4,450
  4,690
  4,942
  5,205
  5,481
  5,769
Total debt, $m
  15,500
  18,195
  21,011
  23,949
  27,010
  30,196
  33,509
  36,953
  40,532
  44,251
  48,116
  52,133
  56,311
  60,656
  65,178
  69,887
  74,791
  79,902
  85,231
  90,790
  96,592
  102,650
  108,978
  115,591
  122,504
  129,735
  137,299
  145,215
  153,501
  162,178
Total liabilities, $m
  26,840
  29,535
  32,351
  35,289
  38,350
  41,536
  44,849
  48,293
  51,872
  55,591
  59,456
  63,473
  67,651
  71,996
  76,518
  81,227
  86,131
  91,242
  96,571
  102,130
  107,932
  113,990
  120,318
  126,931
  133,844
  141,075
  148,639
  156,555
  164,841
  173,518
Total equity, $m
  10,542
  11,600
  12,706
  13,860
  15,062
  16,314
  17,615
  18,967
  20,373
  21,834
  23,352
  24,930
  26,570
  28,277
  30,053
  31,902
  33,829
  35,836
  37,929
  40,112
  42,391
  44,770
  47,256
  49,853
  52,568
  55,408
  58,379
  61,488
  64,743
  68,151
Total liabilities and equity, $m
  37,382
  41,135
  45,057
  49,149
  53,412
  57,850
  62,464
  67,260
  72,245
  77,425
  82,808
  88,403
  94,221
  100,273
  106,571
  113,129
  119,960
  127,078
  134,500
  142,242
  150,323
  158,760
  167,574
  176,784
  186,412
  196,483
  207,018
  218,043
  229,584
  241,669
Debt-to-equity ratio
  1.470
  1.570
  1.650
  1.730
  1.790
  1.850
  1.900
  1.950
  1.990
  2.030
  2.060
  2.090
  2.120
  2.150
  2.170
  2.190
  2.210
  2.230
  2.250
  2.260
  2.280
  2.290
  2.310
  2.320
  2.330
  2.340
  2.350
  2.360
  2.370
  2.380
Adjusted equity ratio
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  900
  962
  1,028
  1,097
  1,168
  1,242
  1,318
  1,398
  1,481
  1,567
  1,887
  1,980
  2,077
  2,178
  2,283
  2,392
  2,506
  2,625
  2,749
  2,878
  3,014
  3,155
  3,303
  3,457
  3,619
  3,788
  3,965
  4,150
  4,344
  4,548
Depreciation, amort., depletion, $m
  1,378
  1,485
  1,596
  1,712
  1,833
  1,960
  2,091
  2,227
  2,369
  2,516
  2,353
  2,512
  2,677
  2,849
  3,028
  3,214
  3,408
  3,610
  3,821
  4,041
  4,271
  4,510
  4,761
  5,023
  5,296
  5,582
  5,881
  6,195
  6,523
  6,866
Funds from operations, $m
  2,278
  2,447
  2,624
  2,809
  3,001
  3,201
  3,409
  3,625
  3,850
  4,083
  4,240
  4,492
  4,754
  5,027
  5,311
  5,606
  5,914
  6,235
  6,570
  6,920
  7,284
  7,665
  8,064
  8,480
  8,915
  9,370
  9,846
  10,345
  10,867
  11,414
Change in working capital, $m
  86
  90
  94
  98
  102
  106
  110
  114
  119
  124
  129
  134
  139
  144
  150
  157
  163
  170
  177
  185
  193
  201
  210
  220
  230
  240
  251
  263
  276
  288
Cash from operations, $m
  2,192
  2,357
  2,531
  2,711
  2,899
  3,095
  3,299
  3,511
  3,731
  3,959
  4,111
  4,358
  4,615
  4,882
  5,160
  5,450
  5,751
  6,065
  6,393
  6,735
  7,092
  7,464
  7,853
  8,260
  8,685
  9,130
  9,595
  10,082
  10,591
  11,125
Maintenance CAPEX, $m
  -960
  -1,062
  -1,169
  -1,280
  -1,396
  -1,517
  -1,644
  -1,775
  -1,911
  -2,053
  -2,200
  -2,353
  -2,512
  -2,677
  -2,849
  -3,028
  -3,214
  -3,408
  -3,610
  -3,821
  -4,041
  -4,271
  -4,510
  -4,761
  -5,023
  -5,296
  -5,582
  -5,881
  -6,195
  -6,523
New CAPEX, $m
  -2,311
  -2,420
  -2,530
  -2,639
  -2,749
  -2,861
  -2,976
  -3,093
  -3,215
  -3,340
  -3,472
  -3,609
  -3,752
  -3,903
  -4,062
  -4,229
  -4,405
  -4,591
  -4,787
  -4,993
  -5,211
  -5,441
  -5,684
  -5,940
  -6,210
  -6,494
  -6,794
  -7,110
  -7,443
  -7,794
Cash from investing activities, $m
  -3,271
  -3,482
  -3,699
  -3,919
  -4,145
  -4,378
  -4,620
  -4,868
  -5,126
  -5,393
  -5,672
  -5,962
  -6,264
  -6,580
  -6,911
  -7,257
  -7,619
  -7,999
  -8,397
  -8,814
  -9,252
  -9,712
  -10,194
  -10,701
  -11,233
  -11,790
  -12,376
  -12,991
  -13,638
  -14,317
Free cash flow, $m
  -1,079
  -1,125
  -1,168
  -1,208
  -1,246
  -1,284
  -1,320
  -1,357
  -1,395
  -1,434
  -1,560
  -1,603
  -1,649
  -1,698
  -1,750
  -1,807
  -1,868
  -1,933
  -2,004
  -2,080
  -2,161
  -2,248
  -2,341
  -2,441
  -2,547
  -2,661
  -2,781
  -2,910
  -3,046
  -3,191
Issuance/(repayment) of debt, $m
  2,585
  2,695
  2,816
  2,938
  3,061
  3,186
  3,313
  3,444
  3,579
  3,719
  3,865
  4,018
  4,178
  4,346
  4,522
  4,708
  4,904
  5,111
  5,329
  5,559
  5,802
  6,058
  6,328
  6,613
  6,914
  7,230
  7,564
  7,916
  8,287
  8,677
Issuance/(repurchase) of shares, $m
  130
  96
  78
  57
  35
  10
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  2,715
  2,791
  2,894
  2,995
  3,096
  3,196
  3,313
  3,444
  3,579
  3,719
  3,865
  4,018
  4,178
  4,346
  4,522
  4,708
  4,904
  5,111
  5,329
  5,559
  5,802
  6,058
  6,328
  6,613
  6,914
  7,230
  7,564
  7,916
  8,287
  8,677
Total cash flow (excl. dividends), $m
  1,636
  1,666
  1,727
  1,788
  1,849
  1,912
  1,993
  2,086
  2,184
  2,285
  2,305
  2,415
  2,529
  2,648
  2,772
  2,901
  3,036
  3,177
  3,325
  3,479
  3,641
  3,810
  3,987
  4,172
  4,366
  4,570
  4,783
  5,006
  5,240
  5,486
Retained Cash Flow (-), $m
  -1,030
  -1,058
  -1,106
  -1,154
  -1,202
  -1,251
  -1,301
  -1,353
  -1,406
  -1,461
  -1,518
  -1,578
  -1,641
  -1,707
  -1,776
  -1,849
  -1,926
  -2,007
  -2,093
  -2,183
  -2,279
  -2,379
  -2,485
  -2,597
  -2,715
  -2,840
  -2,971
  -3,109
  -3,255
  -3,408
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  607
  607
  620
  634
  647
  660
  691
  734
  778
  825
  787
  837
  888
  941
  996
  1,052
  1,110
  1,170
  1,232
  1,296
  1,362
  1,431
  1,501
  1,575
  1,651
  1,730
  1,812
  1,897
  1,986
  2,078
Discount rate, %
  8.60
  9.03
  9.48
  9.96
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.42
  27.74
  29.12
  30.58
  32.11
  33.71
  35.40
PV of cash for distribution, $m
  559
  511
  473
  433
  394
  354
  322
  294
  265
  236
  186
  161
  137
  115
  94
  76
  60
  46
  35
  25
  18
  13
  9
  6
  4
  2
  1
  1
  0
  0
Current shareholders' claim on cash, %
  99.4
  99.0
  98.7
  98.5
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4
  98.4

DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.

FINANCIAL RATIOS  of  DTE Energy (DTE)

Valuation Ratios
P/E Ratio 24.6
Price to Sales 2
Price to Book 2.4
Price to Tangible Book
Price to Cash Flow 10.3
Price to Free Cash Flow 547.7
Growth Rates
Sales Growth Rate 2.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 1.2%
Cap. Spend. - 3 Yr. Gr. Rate 1.7%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 125.1%
Total Debt to Equity 130.8%
Interest Coverage 3
Management Effectiveness
Return On Assets 4%
Ret/ On Assets - 3 Yr. Avg. 4%
Return On Total Capital 4.4%
Ret/ On T. Cap. - 3 Yr. Avg. 4.6%
Return On Equity 9.8%
Return On Equity - 3 Yr. Avg. 9.8%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 23.8%
EBITDA Margin - 3 Yr. Avg. 22.8%
Operating Margin 13.6%
Oper. Margin - 3 Yr. Avg. 12.8%
Pre-Tax Margin 10.4%
Pre-Tax Margin - 3 Yr. Avg. 10%
Net Profit Margin 8.2%
Net Profit Margin - 3 Yr. Avg. 7.5%
Effective Tax Rate 24.5%
Eff/ Tax Rate - 3 Yr. Avg. 25.8%
Payout Ratio 61.2%

DTE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DTE stock intrinsic value calculation we used $12607 million for the last fiscal year's total revenue generated by DTE Energy. The default revenue input number comes from 0001 income statement of DTE Energy. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DTE stock valuation model: a) initial revenue growth rate of 10.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.6%, whose default value for DTE is calculated based on our internal credit rating of DTE Energy, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of DTE Energy.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DTE stock the variable cost ratio is equal to 86.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for DTE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for DTE Energy.

Corporate tax rate of 27% is the nominal tax rate for DTE Energy. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DTE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DTE are equal to 172.9%.

Life of production assets of 22.7 years is the average useful life of capital assets used in DTE Energy operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DTE is equal to 6.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $9512 million for DTE Energy - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 181.773 million for DTE Energy is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of DTE Energy at the current share price and the inputted number of shares is $21.6 billion.

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COMPANY NEWS

▶ DTE Energy increases dividend 7 percent   [Nov-09-18 04:15PM  PR Newswire]
▶ DTE Energy: 3Q Earnings Snapshot   [Oct-24-18 02:43PM  Associated Press]
▶ DTE Energy's Q3 Earnings Outlook   [Oct-23-18 02:34PM  Benzinga]
▶ DTE Energy cutting methane emissions by 80 percent   [Sep-27-18 05:22PM  PR Newswire]
▶ Is DTE Energy (DTE) a Great Dividend Play?   [Sep-10-18 09:15AM  Zacks]
▶ 7 Yield-Heavy Utility Stocks to Buy Today   [Jul-30-18 03:18PM  InvestorPlace]
▶ DTE Energy: 2Q Earnings Snapshot   [Jul-25-18 03:43PM  Associated Press]
▶ Preview: DTE Energy's Q2 Earnings   [Jul-24-18 02:36PM  Benzinga]
▶ [$$] A California Billionaire Sets Michigans Energy Policy   [Jun-22-18 08:38PM  The Wall Street Journal]
▶ DTE Energy issues dividend   [Jun-21-18 04:15PM  PR Newswire]
▶ Billionaire Tom Steyer gets Michigan renewable energy deal   [May-18-18 01:53PM  Associated Press]

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