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

DTE Energy (NYSE:DTE) reached a new 52-week high during trading on Wednesday . The stock traded as high as $133.49 and last traded at $133.33, with a volume of 993563 shares trading hands. The stock had previously closed at $132.38.

Wall Street Analyst Weigh In

DTE has been the subject of a number of recent research reports. BMO Capital Markets upped their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Scotiabank increased their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

DTE Energy Trading Up 0.7 %

The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The business has a 50-day simple moving average of $122.62 and a two-hundred day simple moving average of $123.59. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 2.41 and a beta of 0.68.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. Equities analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Insider Buying and Selling

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $900,571.56. This represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DTE. Mizuho Securities USA LLC boosted its position in shares of 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 acquiring an additional 7,023,042 shares during the period. Capital World Investors raised its stake 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 purchasing an additional 3,766,221 shares in the last quarter. Vanguard Group Inc. raised its stake in DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after purchasing an additional 879,670 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in DTE Energy by 1,794.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock valued at $111,159,000 after purchasing an additional 871,978 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of DTE Energy by 750.0% during the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock worth $116,482,000 after purchasing an additional 851,169 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

About DTE Energy

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.