DTE Energy (NYSE:DTE) Stock Rating Lowered by Scotiabank

DTE Energy (NYSE:DTE) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $147.00 price target on the utilities provider’s stock. Scotiabank’s target price would suggest a potential upside of 4.99% from the stock’s current price.

Several other research firms have also recently issued reports on DTE. Morgan Stanley decreased their price objective on shares of DTE Energy from $140.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a research note on Saturday, September 27th. JPMorgan Chase & Co. lifted their price target on DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Barclays boosted their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.00.

DTE Energy Price Performance

Shares of DTE opened at $140.02 on Friday. DTE Energy has a one year low of $115.59 and a one year high of $142.05. The stock’s fifty day moving average is $138.02 and its 200-day moving average is $135.69. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.42.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. The trade was a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in DTE Energy by 4.2% during the second quarter. Vanguard Group Inc. now owns 25,964,872 shares of the utilities provider’s stock valued at $3,439,307,000 after buying an additional 1,042,589 shares in the last quarter. State Street Corp raised its holdings in shares of DTE Energy by 2.2% during the second quarter. State Street Corp now owns 10,558,531 shares of the utilities provider’s stock valued at $1,409,833,000 after acquiring an additional 222,353 shares during the period. Geode Capital Management LLC lifted its position in shares of DTE Energy by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,250,341 shares of the utilities provider’s stock valued at $692,535,000 after acquiring an additional 154,594 shares in the last quarter. Invesco Ltd. boosted its stake in DTE Energy by 1.3% in the 2nd quarter. Invesco Ltd. now owns 2,387,012 shares of the utilities provider’s stock worth $316,184,000 after purchasing an additional 31,635 shares during the period. Finally, Northern Trust Corp boosted its stake in DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock worth $253,979,000 after purchasing an additional 9,664 shares during the period. Institutional investors and hedge funds 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.