DTE Energy (NYSE:DTE) Sets New 52-Week High – Still a Buy?

DTE Energy (NYSE:DTE) shares reached a new 52-week high on Monday . The stock traded as high as $139.05 and last traded at $137.63, with a volume of 43733 shares traded. The stock had previously closed at $136.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DTE shares. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Guggenheim lifted their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.58.

DTE Energy Stock Performance

The business has a 50 day moving average price of $128.84 and a 200 day moving average price of $125.26. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The stock has a market capitalization of $28.69 billion, a PE ratio of 20.44, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last released 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 net margin of 11.27% and a return on equity of 12.42%. As a group, equities research analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.15%. DTE Energy’s dividend payout ratio is 64.40%.

Insider Transactions at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 over the last quarter. 0.33% of the stock is currently owned by insiders.

Institutional Trading of DTE Energy

Hedge funds have recently bought and sold shares of the company. SkyOak Wealth LLC grew its position in DTE Energy by 4.1% during the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after buying an additional 85 shares during the period. EverSource Wealth Advisors LLC raised its stake in DTE Energy by 8.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 90 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 92 shares during the last quarter. Tidal Investments LLC grew its position in shares of DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 96 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in DTE Energy by 2.3% during the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About DTE Energy

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.