DTE Energy (NYSE:DTE) Earns Buy Rating from KeyCorp

DTE Energy (NYSE:DTE)‘s stock had its “buy” rating reaffirmed by equities research analysts at KeyCorp in a report released on Thursday, March 15th. They presently have a $107.00 price target on the utilities provider’s stock. KeyCorp’s price objective would suggest a potential upside of 2.83% from the stock’s current price.

A number of other brokerages have also commented on DTE. Bank of America upped their target price on DTE Energy from $101.00 to $104.00 and gave the company an “underperform” rating in a research note on Tuesday, February 20th. Wells Fargo upgraded DTE Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, January 12th. Credit Suisse Group restated a “neutral” rating and issued a $107.00 target price (up from $106.00) on shares of DTE Energy in a research note on Tuesday, February 20th. UBS initiated coverage on DTE Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $108.00 target price for the company. Finally, Guggenheim restated a “buy” rating and issued a $112.00 target price on shares of DTE Energy in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. DTE Energy currently has a consensus rating of “Hold” and an average target price of $110.40.

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Shares of DTE stock traded down $0.57 during trading hours on Thursday, reaching $104.06. 879,270 shares of the company’s stock were exchanged, compared to its average volume of 1,219,821. DTE Energy has a fifty-two week low of $97.66 and a fifty-two week high of $116.74. The firm has a market cap of $18,666.80, a PE ratio of 18.62, a price-to-earnings-growth ratio of 2.99 and a beta of 0.15. The company has a quick ratio of 0.82, a current ratio of 1.10 and a debt-to-equity ratio of 1.22.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Friday, February 16th. The utilities provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.17 billion. DTE Energy had a return on equity of 10.81% and a net margin of 8.99%. During the same period in the previous year, the company earned $0.81 earnings per share. equities analysts predict that DTE Energy will post 5.81 EPS for the current fiscal year.

In other news, CEO Gerard M. Anderson sold 12,500 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $102.53, for a total transaction of $1,281,625.00. Following the sale, the chief executive officer now owns 87,358 shares in the company, valued at $8,956,815.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lisa A. Muschong sold 1,341 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $100.97, for a total value of $135,400.77. Following the sale, the vice president now owns 2,676 shares in the company, valued at approximately $270,195.72. The disclosure for this sale can be found here. Insiders have sold 21,521 shares of company stock valued at $2,189,173 over the last quarter. Corporate insiders own 0.59% of the company’s stock.

Several hedge funds have recently made changes to their positions in DTE. Spectrum Management Group Inc. bought a new stake in shares of DTE Energy during the third quarter worth $111,000. SeaCrest Wealth Management LLC bought a new stake in shares of DTE Energy during the fourth quarter worth $138,000. Focused Wealth Management Inc bought a new stake in shares of DTE Energy during the fourth quarter worth $164,000. Lenox Wealth Advisors Inc. bought a new stake in shares of DTE Energy during the fourth quarter worth $190,000. Finally, Capital One National Association bought a new stake in shares of DTE Energy during the fourth quarter worth $201,000. Institutional investors own 68.40% of the company’s stock.

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DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

Analyst Recommendations for DTE Energy (NYSE:DTE)

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