Guggenheim Upgrades DTE Energy (NYSE:DTE) to “Buy”

DTE Energy (NYSE:DTE) was upgraded by stock analysts at Guggenheim from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, Marketbeat reports.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group began coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Wells Fargo & Company upped their price objective on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Morgan Stanley cut their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Stock Performance

NYSE DTE opened at $119.07 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The company has a market cap of $24.66 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.07 and a beta of 0.68. The stock has a 50-day moving average of $121.61 and a two-hundred day moving average of $122.23. DTE Energy has a 1-year low of $102.50 and a 1-year high of $131.66.

Institutional Investors Weigh In On DTE Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy during the third quarter worth about $30,000. Prospera Private Wealth LLC purchased a new position in DTE Energy during the 3rd quarter worth approximately $35,000. Ashton Thomas Securities LLC purchased a new stake in DTE Energy in the third quarter valued at approximately $35,000. Versant Capital Management Inc boosted its holdings in shares of DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the period. Finally, Coastline Trust Co purchased a new position in shares of DTE Energy during the third quarter worth approximately $39,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.