DTE Energy (NYSE:DTE) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of DTE Energy (NYSE:DTE) from a hold rating to a sell rating in a research report released on Monday,Wall Street Zen reports.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley dropped their price target on DTE Energy from $148.00 to $141.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Weiss Ratings downgraded shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research report on Thursday, July 9th. Truist Financial set a $139.00 price objective on shares of DTE Energy in a research report on Friday, October 16th. Finally, BMO Capital Markets lifted their target price on shares of DTE Energy from $134.00 to $139.00 and gave the stock a “market perform” rating in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $151.69.

DTE Energy Price Performance

Shares of DTE stock opened at $129.69 on Monday. The stock’s 50-day moving average is $131.11 and its 200 day moving average is $140.83. DTE Energy has a 1-year low of $119.68 and a 1-year high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The company has a market cap of $26.99 billion, a P/E ratio of 18.04, a PEG ratio of 2.55 and a beta of 0.36.

DTE Energy (NYSE:DTE) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the previous year, the company posted $1.36 earnings per share. Research analysts predict that DTE Energy will post 7.70 earnings per share for the current fiscal year.

Insider Activity

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total value of $678,550.00. Following the transaction, the insider directly owned 73,122 shares of the company’s stock, valued at $9,923,386.62. This represents a 6.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in DTE Energy in the second quarter valued at about $3,915,284,000. Jupiter Topco LLC purchased a new position in DTE Energy during the second quarter worth about $477,264,000. Janus Henderson Group PLC boosted its stake in DTE Energy by 1.3% during the first quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock worth $451,022,000 after buying an additional 40,346 shares during the period. Bank of America Corp DE acquired a new stake in shares of DTE Energy during the second quarter valued at about $417,001,000. Finally, Soroban Capital Partners LP increased its position in shares of DTE Energy by 2.0% during the first quarter. Soroban Capital Partners LP now owns 2,038,473 shares of the utilities provider’s stock valued at $298,066,000 after acquiring an additional 39,963 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

About DTE Energy

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.