DTE Energy Co (NYSE:DTE) has been given an average recommendation of “Hold” by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $128.64.
DTE has been the topic of a number of recent analyst reports. Barclays reaffirmed a “hold” rating and set a $131.00 price target on shares of DTE Energy in a research report on Thursday, June 20th. KeyCorp began coverage on DTE Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $136.00 target price on the stock. Mizuho began coverage on DTE Energy in a research report on Monday, August 12th. They set a “neutral” rating and a $131.00 target price on the stock. Wells Fargo & Co raised DTE Energy from a “market perform” rating to an “outperform” rating and set a $145.00 target price on the stock in a research report on Monday, August 26th. Finally, ValuEngine cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th.
DTE traded up $0.97 on Friday, hitting $128.94. The company had a trading volume of 39,123 shares, compared to its average volume of 941,524. The stock has a market capitalization of $23.62 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 3.46 and a beta of 0.21. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.54 and a current ratio of 0.75. The stock has a fifty day moving average price of $129.08 and a 200-day moving average price of $126.87. DTE Energy has a 12-month low of $106.41 and a 12-month high of $132.50.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.98 billion. DTE Energy had a net margin of 8.09% and a return on equity of 10.33%. During the same quarter in the prior year, the business posted $1.36 earnings per share. Analysts forecast that DTE Energy will post 6.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.78 annualized dividend and a dividend yield of 2.93%. DTE Energy’s payout ratio is currently 60.00%.
In related news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $131.00, for a total transaction of $1,310,000.00. Following the completion of the sale, the chief operating officer now owns 17,111 shares of the company’s stock, valued at $2,241,541. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gerard M. Anderson sold 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $128.02, for a total value of $1,472,230.00. Following the completion of the sale, the chairman now owns 80,406 shares in the company, valued at approximately $10,293,576.12. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
A number of large investors have recently modified their holdings of DTE. Wells Fargo & Company MN increased its stake in shares of DTE Energy by 5.2% in the second quarter. Wells Fargo & Company MN now owns 1,360,440 shares of the utilities provider’s stock worth $173,974,000 after acquiring an additional 67,039 shares during the period. Parametric Portfolio Associates LLC grew its position in DTE Energy by 6.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 568,909 shares of the utilities provider’s stock worth $70,966,000 after purchasing an additional 33,177 shares during the period. Quantitative Systematic Strategies LLC grew its position in DTE Energy by 2.8% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 43,391 shares of the utilities provider’s stock worth $5,549,000 after purchasing an additional 1,191 shares during the period. Keystone Financial Group raised its stake in shares of DTE Energy by 10.2% during the 2nd quarter. Keystone Financial Group now owns 2,119 shares of the utilities provider’s stock valued at $271,000 after buying an additional 197 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of DTE Energy by 17.6% during the 1st quarter. Toronto Dominion Bank now owns 118,233 shares of the utilities provider’s stock valued at $14,744,000 after buying an additional 17,713 shares during the last quarter. Institutional investors own 70.90% 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 approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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