DTE Energy (DTE) Raised to Buy at Zacks Investment Research

DTE Energy (NYSE:DTE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $116.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.62% from the company’s previous close.

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. However, increasingly stringent government regulations for curbing emissions and operational risks remain major concerns. “

DTE has been the subject of several other reports. Guggenheim reissued a “buy” rating and set a $121.00 target price on shares of DTE Energy in a research note on Wednesday, January 3rd. Credit Suisse Group decreased their price target 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 began coverage on DTE Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $112.00 price target for the company. KeyCorp reaffirmed a “buy” rating and set a $118.50 price target on shares of DTE Energy in a report on Friday, December 15th. Finally, Wells Fargo & Co raised DTE Energy from a “market perform” rating to an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $114.39.

Shares of DTE Energy (NYSE:DTE) traded down $0.01 during midday trading on Monday, hitting $103.92. The stock had a trading volume of 1,314,300 shares, compared to its average volume of 1,135,689. DTE Energy has a twelve month low of $96.56 and a twelve month high of $116.74. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.08 and a quick ratio of 0.77. The firm has a market capitalization of $18,640.00, a PE ratio of 19.00, a PEG ratio of 3.00 and a beta of 0.23.

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

In other DTE Energy news, Chairman Gerard M. Anderson sold 12,389 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the transaction, the chairman now owns 83,000 shares in the company, valued at approximately $9,373,190. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DTE. Pacad Investment Ltd. acquired a new stake in shares of DTE Energy in the 2nd quarter worth approximately $106,000. Wells Fargo & Company MN lifted its stake in DTE Energy by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 275,533 shares of the utilities provider’s stock valued at $29,149,000 after buying an additional 6,532 shares in the last quarter. Amalgamated Bank lifted its stake in DTE Energy by 60.2% in the 2nd quarter. Amalgamated Bank now owns 20,164 shares of the utilities provider’s stock valued at $2,133,000 after buying an additional 7,579 shares in the last quarter. Stevens Capital Management LP lifted its stake in DTE Energy by 151.7% in the 2nd quarter. Stevens Capital Management LP now owns 22,961 shares of the utilities provider’s stock valued at $2,429,000 after buying an additional 13,838 shares in the last quarter. Finally, Choate Investment Advisors purchased a new stake in DTE Energy in the 2nd quarter valued at approximately $207,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

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