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Thursday, July 14, 2011

Department of Energy Grants DTE Energy $5.4M

- Department of Energy Grants DTE Energy $5.4M

Jul 14, 2011

DTE Energy (NYSE:DTE) received a $5.4 million federal grant through the Clean Energy Coalition to fund the conversion of more than 170 gasoline-powered fleet vehicles to use compacted natural gas.

The grant that was awarded to Clean Energy Coalition's Green Fleets program by the U.S. Department of Energy under the American Recovery and Reinvestment Act also pays for the building of two new CNG fueling stations and the refurbishment of 11 others across the state of Michigan.

DTE Energy has a potential upside of 1.3% based on a current price of $50.08 and an average consensus analyst price target of $50.71.

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