DTE Energy cut to Neutral from Buy at UBS

• DTE Energy (DTE -1%) is downgraded to Neutral from Buy with a $105 price target at UBS, which sees Wall Street estimates already reflecting much of the upside in the latest 5%-7% EPS growth.
• UBS sees midstream as an appealing avenue but worries that P&I risks and more M&A in gas midstream could prove tricky.
• The firm also sees a risk that updates on Michigan legislation could prove a "topping out" of the DTE story with more limited specifics to drive estimates higher.