Zacks Investment Research upgraded shares of DTE Energy (NYSE:DTE) from a hold rating to a buy rating in a research note released on Monday morning. The brokerage currently has $116.00 price objective on the utilities provider’s stock.
According to Zacks, “In last one year DTE Energy’s share price outperformed the broader industry’s rally. The company's focus on improving its cost structure and making capital investments in renewable generation, utility infrastructure and environmental compliance assets is impressive. Currently, DTE Energy plans to invest $6.5 billion over the next 10 years for maintaining and upgrading the reliability of its electric utility systems. Apart from its utility operation, it also continues to make progress on its non-utility business, which provides diversity to its earnings stream. However, increasingly stringent government regulations for curbing emissions and operational risks remain major concerns. “
Other equities analysts have also issued research reports about the stock. Guggenheim reiterated a buy rating and set a $121.00 price objective on shares of DTE Energy in a report on Wednesday, January 3rd. Credit Suisse Group dropped their price objective 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. Wells Fargo & Co upgraded shares of DTE Energy from a market perform rating to an outperform rating in a report on Friday, January 12th. KeyCorp reiterated a buy rating and set a $118.50 price objective on shares of DTE Energy in a report on Friday, December 15th. Finally, Bank of America started coverage on shares of DTE Energy in a report on Tuesday, October 24th. They set an underperform rating and a $112.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. DTE Energy presently has an average rating of Buy and a consensus price target of $114.39.
Shares of DTE Energy (DTE) traded down $0.62 on Monday, reaching $103.47. 1,137,100 shares of the company’s stock were exchanged, compared to its average volume of 1,238,375. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $18,672.74, a PE ratio of 18.95, a P/E/G ratio of 3.01 and a beta of 0.23. DTE Energy has a twelve month low of $96.56 and a twelve month high of $116.74.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.05). The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $2.80 billion. DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.96 EPS. research analysts forecast that DTE Energy will post 5.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Monday, December 18th were issued a $0.8825 dividend. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, December 15th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. DTE Energy’s dividend payout ratio is currently 64.65%.
In related news, Chairman Gerard M. Anderson sold 12,389 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $112.93, for a total value of $1,399,089.77. Following the sale, the chairman now owns 83,000 shares in the company, valued at approximately $9,373,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacad Investment Ltd. purchased a new stake in DTE Energy in the 2nd quarter valued at about $106,000. Spectrum Management Group Inc. purchased a new stake in DTE Energy in the 3rd quarter valued at about $111,000. Sun Life Financial INC increased its stake in DTE Energy by 13,030.0% in the 2nd quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock valued at $139,000 after buying an additional 1,303 shares during the last quarter. D.A. Davidson & CO. increased its stake in DTE Energy by 36.1% in the 2nd quarter. D.A. Davidson & CO. now owns 1,497 shares of the utilities provider’s stock valued at $158,000 after buying an additional 397 shares during the last quarter. Finally, Pinebridge Investments L.P. purchased a new stake in DTE Energy in the 2nd quarter valued at about $161,000. Institutional investors own 68.34% of the company’s stock.
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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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