DTE Energy (NYSE:DTE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

DTE Energy (NYSE:DTE) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $138.58.

DTE has been the subject of several research reports. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Guggenheim boosted their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Morgan Stanley upped their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, UBS Group upgraded 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 report on Tuesday, December 3rd.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $136.47 on Monday. The firm has a market cap of $28.32 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a 52 week low of $103.06 and a 52 week high of $138.22. The business’s fifty day simple moving average is $128.84 and its 200-day simple moving average is $125.25.

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

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

Insiders Place Their Bets

In related news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DTE Energy

Several hedge funds have recently made changes to their positions in the business. Allworth Financial LP lifted its position in DTE Energy by 16.0% during the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 336 shares during the period. Jones Financial Companies Lllp raised its stake in shares of DTE Energy by 72.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 2,642 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after purchasing an additional 211,763 shares during the period. Patton Albertson Miller Group LLC grew its position in DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after buying an additional 3,306 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in DTE Energy by 80.0% in the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after buying an additional 5,725 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

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.