DTE Energy (DTE) Downgraded by Zacks Investment Research

DTE Energy (NYSE:DTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “In last one year DTE Energy’s share price outperformed the broader industry’s rally. The company's focus on improving its cost structure and making capital investments in renewable generation, utility infrastructure and environmental compliance assets is impressive. Currently, DTE Energy plans to invest $6.5 billion over the next 10 years for maintaining and upgrading the reliability of its electric utility systems. Apart from its utility operation, it also continues to make progress on its non-utility business, which provides diversity to its earnings stream. That said, increasingly stringent government regulations for curbing emissions and operational risks remain major concerns. Moreover, unfavorable weather conditions tend to adversely impact demand for utility services, which in turn might hamper the company's income and cash flow to some extent.”

Several other equities research analysts also recently weighed in on the stock. Credit Suisse Group lowered their target price on shares of DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Guggenheim reissued a “buy” rating and set a $121.00 target price on shares of DTE Energy in a report on Wednesday. KeyCorp reissued a “buy” rating and set a $118.50 target price on shares of DTE Energy in a report on Friday, December 15th. Finally, Bank of America began coverage on shares of DTE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $113.17.

Shares of DTE Energy (DTE) traded down $1.80 during trading hours on Friday, hitting $106.30. 928,700 shares of the stock were exchanged, compared to its average volume of 1,021,267. The stock has a market capitalization of $19,070.00, a price-to-earnings ratio of 19.43, a PEG ratio of 3.15 and a beta of 0.23. DTE Energy has a fifty-two week low of $96.56 and a fifty-two week high of $116.74. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 1.20.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.05). The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $2.80 billion. DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. sell-side analysts expect that DTE Energy will post 5.54 EPS for the current fiscal year.

In related news, Chairman Gerard M. Anderson sold 12,389 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the transaction, the chairman now directly owns 83,000 shares in the company, valued at $9,373,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of DTE. Janus Henderson Group PLC increased its stake in DTE Energy by 7,495.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,645,752 shares of the utilities provider’s stock worth $174,104,000 after buying an additional 1,624,083 shares during the period. Goldman Sachs Group Inc. boosted its stake in DTE Energy by 36.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,122,051 shares of the utilities provider’s stock worth $224,492,000 after purchasing an additional 572,523 shares during the period. APG Asset Management N.V. lifted its stake in shares of DTE Energy by 190.0% in the 3rd quarter. APG Asset Management N.V. now owns 658,763 shares of the utilities provider’s stock worth $70,725,000 after acquiring an additional 431,600 shares during the period. Vanguard Group Inc. lifted its stake in shares of DTE Energy by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 18,988,361 shares of the utilities provider’s stock worth $2,008,779,000 after acquiring an additional 375,899 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of DTE Energy by 52.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 498,339 shares of the utilities provider’s stock worth $52,719,000 after acquiring an additional 172,266 shares during the period. Hedge funds and other institutional investors own 68.31% of the company’s stock.

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