DTE Energy (NYSE:DTE) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of DTE Energy (NYSE:DTE) from a sell rating to a hold rating in a research note published on Friday.

DTE has been the subject of a number of other research reports. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $137.00 to $135.00 in a research report on Thursday. Scotiabank upped their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

DTE Energy Trading Up 0.6 %

Shares of DTE opened at $131.98 on Friday. The business has a 50-day moving average of $122.15 and a 200 day moving average of $123.36. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $132.88. The firm has a market cap of $27.35 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.68. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

DTE Energy (NYSE:DTE) last posted its earnings results 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 return on equity of 12.42% and a net margin of 11.27%. As a group, research analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.30%. DTE Energy’s payout ratio is presently 64.40%.

Insider Activity

In related news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of DTE Energy by 3.6% during 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 buying an additional 879,670 shares during the last quarter. State Street Corp boosted its position in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after purchasing an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC boosted its position in DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after purchasing an additional 7,023,042 shares during the last quarter. Capital World Investors boosted its position in DTE Energy by 123.2% in the fourth 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 during the last quarter. Finally, Geode Capital Management LLC boosted its position in DTE Energy by 2.4% in the fourth 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 during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

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.