ValuEngine Upgrades DTE Energy (DTE) to “Hold”

DTE Energy (NYSE:DTE) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Monday, May 21st. Citigroup began coverage on DTE Energy in a research report on Friday, April 13th. They set a “neutral” rating and a $103.00 price objective for the company. KeyCorp reissued a “buy” rating and set a $107.00 price objective on shares of DTE Energy in a research report on Thursday, March 15th. Finally, Wells Fargo & Co cut DTE Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $109.27 to $103.00 in a research report on Monday, June 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $109.30.

DTE traded up $0.41 during trading on Tuesday, reaching $103.20. 1,606,400 shares of the stock traded hands, compared to its average volume of 1,302,295. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.27 and a beta of 0.16. DTE Energy has a fifty-two week low of $94.25 and a fifty-two week high of $116.74. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 1.18.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, April 25th. The utilities provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.26 billion. DTE Energy had a return on equity of 10.27% and a net margin of 8.34%. During the same quarter last year, the firm earned $1.79 earnings per share. sell-side analysts forecast that DTE Energy will post 5.77 earnings per share for the current fiscal year.

In other DTE Energy news, insider Peter B. Oleksiak sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $99.89, for a total value of $99,890.00. Following the completion of the sale, the insider now owns 29,555 shares of the company’s stock, valued at $2,952,248.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gerard M. Anderson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $102.18, for a total value of $1,532,700.00. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in DTE. Wells Fargo & Company MN lifted its position in shares of DTE Energy by 50.3% in the fourth quarter. Wells Fargo & Company MN now owns 512,627 shares of the utilities provider’s stock worth $56,113,000 after buying an additional 171,483 shares during the last quarter. American International Group Inc. increased its stake in shares of DTE Energy by 14.8% in the fourth quarter. American International Group Inc. now owns 61,416 shares of the utilities provider’s stock worth $6,723,000 after purchasing an additional 7,931 shares during the period. OppenheimerFunds Inc. increased its stake in shares of DTE Energy by 8.7% in the fourth quarter. OppenheimerFunds Inc. now owns 16,719 shares of the utilities provider’s stock worth $1,830,000 after purchasing an additional 1,341 shares during the period. Cbre Clarion Securities LLC increased its stake in shares of DTE Energy by 38.2% in the fourth quarter. Cbre Clarion Securities LLC now owns 10,500 shares of the utilities provider’s stock worth $1,149,000 after purchasing an additional 2,900 shares during the period. Finally, CT Mason bought a new position in shares of DTE Energy in the fourth quarter worth about $458,000. 70.55% of the stock is owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for DTE Energy (NYSE:DTE)

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