DTE Energy (NYSE:DTE) Hits New 52-Week High – What’s Next?

DTE Energy (NYSE:DTE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $131.84 and last traded at $131.41, with a volume of 772460 shares changing hands. The stock had previously closed at $130.38.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $137.00 to $135.00 in a research report on Thursday. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.67.

DTE Energy Trading Up 0.6 %

The business has a 50 day moving average of $122.15 and a 200-day moving average of $123.36. The stock has a market cap of $27.35 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

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

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mizuho Securities USA LLC raised its position in DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after purchasing an additional 7,023,042 shares during the period. Capital World Investors boosted its holdings in DTE Energy by 123.2% in the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock worth $823,905,000 after acquiring an additional 3,766,221 shares during the period. Vanguard Group Inc. raised its stake in shares of DTE Energy by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock valued at $3,053,330,000 after purchasing an additional 879,670 shares during the period. Balyasny Asset Management L.P. increased its stake in DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock worth $111,159,000 after buying an additional 871,978 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in DTE Energy by 750.0% in the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock worth $116,482,000 after buying an additional 851,169 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

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.