DTE Energy Company (DTE) Receives Consensus Recommendation of “Hold” from Brokerages
DTE Energy Company (NYSE:DTE) has received an average recommendation of “Hold” from the ten brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $111.50.
A number of research firms have issued reports on DTE. Credit Suisse Group decreased their price objective on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Bank of America Corporation began coverage on DTE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 price objective for the company. Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BMO Capital Markets reiterated a “hold” rating and issued a $111.00 price objective on shares of DTE Energy in a report on Friday, July 28th. Finally, BidaskClub downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th.
Shares of DTE Energy (NYSE DTE) opened at 110.46 on Wednesday. The stock has a 50 day moving average of $109.74 and a 200 day moving average of $108.32. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 19.02 and a beta of 0.20. DTE Energy has a 1-year low of $89.66 and a 1-year high of $113.71.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.05). DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the business earned $1.96 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Analysts predict that DTE Energy will post $5.43 EPS for the current year.
In other news, insider Larry E. Steward sold 9,999 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the completion of the transaction, the insider now directly owns 39,698 shares in the company, valued at $4,268,328.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark W. Stiers sold 3,632 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total value of $399,628.96. Following the transaction, the insider now owns 25,257 shares of the company’s stock, valued at $2,779,027.71. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Pacad Investment Ltd. bought a new position in shares of DTE Energy during the second quarter valued at $106,000. Gradient Investments LLC increased its holdings in shares of DTE Energy by 0.3% during the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 3 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of DTE Energy by 13,030.0% during the second quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 1,303 shares in the last quarter. Vantage Investment Advisors LLC increased its holdings in shares of DTE Energy by 0.8% during the second quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 10 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in shares of DTE Energy by 335.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock valued at $142,000 after acquiring an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.
WARNING: “DTE Energy Company (DTE) Receives Consensus Recommendation of “Hold” from Brokerages” was originally published by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/11/01/dte-energy-company-dte-receives-consensus-recommendation-of-hold-from-brokerages.html.
About DTE Energy
Receive News & Ratings for DTE Energy Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy Company and related companies with MarketBeat.com's FREE daily email newsletter.