StockNews.com Upgrades DTE Energy (NYSE:DTE) to Hold

StockNews.com upgraded shares of DTE Energy (NYSE:DTE) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

A number of other brokerages have also recently commented on DTE. Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley reduced their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $137.00 to $135.00 in a research report on Thursday. Wells Fargo & Company upped their target price on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets upped their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

DTE Energy Trading Up 0.6 %

Shares of NYSE:DTE opened at $131.98 on Friday. DTE Energy has a 52-week low of $103.06 and a 52-week high of $132.88. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a market capitalization of $27.35 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.40 and a beta of 0.68. The stock’s 50-day simple moving average is $122.15 and its two-hundred day simple moving average is $123.36.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

Insider Transactions at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

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

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.