DTE Energy (NYSE:DTE) Rating Lowered to Equal Weight at Barclays

Barclays downgraded shares of DTE Energy (NYSE:DTE) from an overweight rating to an equal weight rating in a research report released on Thursday morning, Marketbeat Ratings reports. Barclays currently has $135.00 target price on the utilities provider’s stock, down from their previous target price of $137.00.

Several other research firms have also issued reports on DTE. BMO Capital Markets increased their price target on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. StockNews.com downgraded DTE Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley reduced their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.67.

DTE Energy Stock Performance

NYSE:DTE opened at $131.07 on Thursday. The company has a market cap of $27.16 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.38 and a beta of 0.68. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $131.84. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a fifty day moving average price of $121.93 and a 200-day moving average price of $123.27.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. As a group, equities analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Activity at DTE Energy

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the sale, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DTE. Blue Trust Inc. raised its holdings in DTE Energy by 52.5% during the 3rd quarter. Blue Trust Inc. now owns 3,042 shares of the utilities provider’s stock worth $391,000 after purchasing an additional 1,047 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of DTE Energy by 21.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,719 shares of the utilities provider’s stock valued at $2,018,000 after purchasing an additional 2,726 shares during the last quarter. Signaturefd LLC increased its position in shares of DTE Energy by 3.1% during the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock worth $371,000 after buying an additional 86 shares during the period. Eastern Bank bought a new position in DTE Energy during the third quarter worth $175,000. Finally, Waldron Private Wealth LLC acquired a new position in DTE Energy in the third quarter valued at $205,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.