DTE Energy (NYSE:DTE) had its price objective lifted by KeyCorp from $107.00 to $108.00 in a report published on Wednesday morning. KeyCorp currently has an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for DTE Energy’s Q1 2018 earnings at $1.92 EPS and FY2019 earnings at $6.05 EPS.
DTE has been the topic of a number of other reports. Zacks Investment Research cut shares of DTE Energy from a buy rating to a hold rating in a research report on Friday, January 5th. Guggenheim restated a buy rating and issued a $121.00 target price on shares of DTE Energy in a report on Wednesday, January 3rd. UBS initiated coverage on shares of DTE Energy in a report on Friday, February 2nd. They issued a neutral rating and a $108.00 target price on the stock. Citigroup initiated coverage on shares of DTE Energy in a report on Friday, April 13th. They issued a neutral rating and a $103.00 target price on the stock. Finally, Credit Suisse Group restated a neutral rating and issued a $107.00 target price (up previously from $106.00) on shares of DTE Energy in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $110.50.
Shares of NYSE DTE opened at $102.73 on Wednesday. DTE Energy has a one year low of $97.66 and a one year high of $116.74. The company has a current ratio of 1.10, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. The company has a market cap of $18,609.40, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.98 and a beta of 0.15.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Friday, February 16th. The utilities provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. DTE Energy had a net margin of 8.99% and a return on equity of 10.81%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the business earned $0.81 earnings per share. sell-side analysts predict that DTE Energy will post 5.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, April 15th. Stockholders of record on Monday, March 19th were issued a $0.8825 dividend. This represents a $3.53 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Friday, March 16th. DTE Energy’s dividend payout ratio is 63.15%.
In related news, CEO Gerard M. Anderson sold 12,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $102.53, for a total value of $1,281,625.00. Following the completion of the sale, the chief executive officer now owns 87,358 shares of the company’s stock, valued at $8,956,815.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Ruud sold 7,680 shares of the firm’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 worth $2,189,173 in the last 90 days. Company insiders own 0.59% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in DTE Energy by 3.2% in the fourth quarter. BlackRock Inc. now owns 15,036,122 shares of the utilities provider’s stock worth $1,645,854,000 after acquiring an additional 460,371 shares during the period. Renaissance Technologies LLC lifted its stake in DTE Energy by 13.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,303,300 shares of the utilities provider’s stock worth $252,119,000 after acquiring an additional 275,000 shares during the period. Geode Capital Management LLC lifted its stake in DTE Energy by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,900,840 shares of the utilities provider’s stock worth $207,621,000 after acquiring an additional 35,427 shares during the period. Victory Capital Management Inc. lifted its stake in DTE Energy by 8.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,735,342 shares of the utilities provider’s stock worth $189,951,000 after acquiring an additional 131,866 shares during the period. Finally, Jennison Associates LLC lifted its stake in DTE Energy by 7.2% in the fourth quarter. Jennison Associates LLC now owns 1,441,152 shares of the utilities provider’s stock worth $157,748,000 after acquiring an additional 96,238 shares during the period. 68.43% of the stock is owned by institutional investors.
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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.
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