Mizuho cuts DTE Energy stock price target on utility valuation pressure

Mizuho has reduced its price target for DTE Energy (NYSE: DTE) from $152 to $136, while maintaining an Outperform rating. This adjustment is due to utility valuation pressure, political noise in Michigan, and discussions around a potential divestiture of the Vantage segment, despite the firm not expecting regulatory deterioration or an earnings divot. DTE Energy has recently underperformed other utility stocks and reported Q2 earnings below expectations, yet it maintains a 56-year dividend payme