DTE Energy (NYSE:DTE) Receives Average Recommendation of “Moderate Buy” from Brokerages

DTE Energy (NYSE:DTE) has received a consensus rating of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $138.58.

Several research firms recently commented on DTE. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Guggenheim lifted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday.

Insider Activity at DTE Energy

In other news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. This represents a 35.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last ninety days. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds have recently made changes to their positions in DTE. Legacy Investment Solutions LLC acquired a new position in shares of DTE Energy in the 3rd quarter valued at $30,000. Versant Capital Management Inc raised its stake in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after buying an additional 267 shares in the last quarter. Mattson Financial Services LLC bought a new stake in shares of DTE Energy in the 4th quarter worth about $38,000. Robbins Farley bought a new stake in shares of DTE Energy in the 4th quarter worth about $57,000. Finally, Kestra Investment Management LLC bought a new stake in shares of DTE Energy in the 4th quarter worth about $57,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

DTE stock opened at $137.18 on Monday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a market cap of $28.47 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59. The firm has a 50 day simple moving average of $127.38 and a 200 day simple moving average of $124.86. DTE Energy has a 52 week low of $103.06 and a 52 week high of $138.22.

DTE Energy (NYSE:DTE) last posted its quarterly 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 net margin of 11.27% and a return on equity of 12.42%. Research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

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.