Guggenheim Upgrades DTE Energy (NYSE:DTE) to “Buy”

DTE Energy (NYSE:DTE) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a report released on Thursday, Marketbeat reports.

A number of other equities analysts have also recently commented on DTE. BMO Capital Markets increased their target price on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Barclays raised their price target on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group started coverage on shares of DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.25.

DTE Energy Stock Down 0.4 %

DTE stock opened at $119.07 on Thursday. The stock has a market capitalization of $24.66 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.07 and a beta of 0.68. DTE Energy has a 52 week low of $102.50 and a 52 week high of $131.66. The firm has a 50-day simple moving average of $121.61 and a 200-day simple moving average of $122.23. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after purchasing an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after buying an additional 7,023,042 shares during the period. Ameriprise Financial Inc. lifted its position in DTE Energy by 1.6% in the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after buying an additional 86,205 shares during the last quarter. Janus Henderson Group PLC boosted its stake in DTE Energy by 2.4% during the third quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock worth $349,309,000 after buying an additional 64,880 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of DTE Energy by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,274,837 shares of the utilities provider’s stock valued at $163,702,000 after acquiring an additional 14,937 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

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.