Investment analysts at Citigroup started coverage on shares of DTE Energy (NYSE:DTE) in a note issued to investors on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $103.00 price target on the utilities provider’s stock. Citigroup’s target price points to a potential upside of 0.55% from the stock’s current price.
DTE has been the subject of a number of other reports. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Guggenheim reiterated a “buy” rating and issued a $121.00 price objective on shares of DTE Energy in a research report on Wednesday, January 3rd. KeyCorp reiterated a “buy” rating and issued a $118.50 price objective on shares of DTE Energy in a research report on Friday, December 15th. UBS started coverage on DTE Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $108.00 price objective for the company. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $107.00 price objective (up from $106.00) on shares of DTE Energy in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $110.40.
DTE stock opened at $102.44 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.10 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $18,315.21, a PE ratio of 18.33, a P/E/G ratio of 2.93 and a beta of 0.15. DTE Energy has a 1 year low of $97.66 and a 1 year high of $116.74.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Friday, February 16th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business 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 prior year, the business earned $0.81 earnings per share. equities research analysts predict that DTE Energy will post 5.81 EPS for the current fiscal year.
In other DTE Energy news, CEO Gerard M. Anderson sold 12,500 shares of the company’s 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 transaction, the chief executive officer now directly owns 87,358 shares in the company, valued at $8,956,815.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Ruud sold 7,680 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $100.54, for a total value of $772,147.20. The disclosure for this sale can be found here. Insiders sold 21,521 shares of company stock valued at $2,189,173 over the last quarter. 0.59% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Elkfork Partners LLC acquired a new position in DTE Energy during the fourth quarter worth $831,000. Xact Kapitalforvaltning AB lifted its stake in DTE Energy by 12.3% during the fourth quarter. Xact Kapitalforvaltning AB now owns 16,514 shares of the utilities provider’s stock worth $1,808,000 after purchasing an additional 1,808 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in DTE Energy during the fourth quarter worth $6,075,000. BB&T Securities LLC acquired a new position in DTE Energy during the fourth quarter worth $202,000. Finally, Municipal Employees Retirement System of Michigan lifted its stake in DTE Energy by 34.3% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 18,610 shares of the utilities provider’s stock worth $2,037,000 after purchasing an additional 4,750 shares in the last quarter. Institutional investors own 68.43% of the company’s stock.
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About DTE Energy
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.
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