DTE Energy (NYSE:DTE) Sets New 52-Week High – Here’s Why

DTE Energy (NYSE:DTE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $136.31 and last traded at $135.74, with a volume of 222527 shares traded. The stock had previously closed at $134.17.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank increased their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. BMO Capital Markets upped their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley dropped their target price 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, Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.09.

DTE Energy Trading Up 1.4 %

The company’s fifty day moving average price is $125.78 and its two-hundred day moving average price is $124.47. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The company has a market cap of $28.20 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

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

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 3.20%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Activity

In related news, 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 transaction of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This represents a 35.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now owns 14,067 shares in the company, valued at approximately $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 have sold 11,877 shares of company stock valued at $1,559,205 over the last 90 days. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DTE. Vanguard Group Inc. increased its holdings in shares of DTE Energy by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock valued at $3,053,330,000 after purchasing an additional 879,670 shares during the last quarter. State Street Corp increased its position in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after acquiring an additional 662,569 shares during the period. Capital World Investors raised its stake in DTE Energy by 123.2% in the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock worth $823,905,000 after purchasing an additional 3,766,221 shares in the last quarter. Geode Capital Management LLC raised its stake in DTE Energy by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider’s stock worth $592,642,000 after purchasing an additional 115,270 shares in the last quarter. Finally, Boston Partners grew its position in shares of DTE Energy by 25.1% during the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock worth $350,150,000 after purchasing an additional 582,643 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

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.