Wells Fargo & Co upgraded shares of DTE Energy (NYSE:DTE) from a market perform rating to an outperform rating in a research note issued to investors on Friday, January 12th, Marketbeat.com reports.
Several other analysts have also recently weighed in on DTE. Zacks Investment Research upgraded shares of DTE Energy from a hold rating to a buy rating and set a $119.00 price objective for the company in a research note on Monday, January 8th. Credit Suisse Group decreased their target price on shares of DTE Energy from $113.00 to $112.00 and set a neutral rating on the stock in a report on Thursday, October 26th. Guggenheim reissued a buy rating and issued a $121.00 target price on shares of DTE Energy in a report on Wednesday, January 3rd. Bank of America initiated coverage on shares of DTE Energy in a report on Tuesday, October 24th. They issued an underperform rating and a $112.00 target price on the stock. Finally, KeyCorp reissued a buy rating and issued a $118.50 target price on shares of DTE Energy in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $114.39.
DTE Energy (NYSE DTE) traded up $0.21 during midday trading on Friday, hitting $103.36. 1,096,743 shares of the stock were exchanged, compared to its average volume of 1,227,614. DTE Energy has a one year low of $96.56 and a one year high of $116.74. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 1.20. The firm has a market cap of $18,540.00, a PE ratio of 18.90, a PEG ratio of 2.98 and a beta of 0.23.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.05). DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm earned $1.96 EPS. DTE Energy’s revenue for the quarter was up 10.8% compared to the same quarter last year. equities analysts anticipate that DTE Energy will post 5.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Monday, December 18th were issued a dividend of $0.8825 per share. The ex-dividend date was Friday, December 15th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. This represents a $3.53 annualized dividend and a dividend yield of 3.42%. DTE Energy’s payout ratio is 64.53%.
In related news, Chairman Gerard M. Anderson sold 12,389 shares of DTE Energy stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the sale, the chairman now directly owns 83,000 shares of the company’s stock, valued at approximately $9,373,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.
A number of large investors have recently bought and sold shares of DTE. Janus Henderson Group PLC boosted its position in DTE Energy by 7,495.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,645,752 shares of the utilities provider’s stock worth $174,104,000 after buying an additional 1,624,083 shares during the period. Goldman Sachs Group Inc. boosted its position in DTE Energy by 36.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,122,051 shares of the utilities provider’s stock worth $224,492,000 after buying an additional 572,523 shares during the period. APG Asset Management N.V. boosted its position in DTE Energy by 190.0% during the 3rd quarter. APG Asset Management N.V. now owns 658,763 shares of the utilities provider’s stock worth $70,725,000 after buying an additional 431,600 shares during the period. Vanguard Group Inc. boosted its position in DTE Energy by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 18,988,361 shares of the utilities provider’s stock worth $2,008,779,000 after buying an additional 375,899 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in DTE Energy by 52.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 498,339 shares of the utilities provider’s stock worth $52,719,000 after buying an additional 172,266 shares during the period. Institutional investors and hedge funds own 68.29% of the company’s stock.
DTE Energy Company Profile
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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