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 research note issued on Monday.

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. It is also investing steadily to enhance its renewable generation assets. 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. However, increasingly stringent government regulations for curbing emissions and operational risks remain major concerns. Unfavorable weather conditions also tend to have adversely impacted demand for utility services, which in turn might have acted as a headwind and lowered its income and cash flow to some extent.”

Several other research analysts have also recently issued reports on the company. Wells Fargo & Co upgraded DTE Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, January 12th. Guggenheim reiterated a “buy” rating and issued a $121.00 price objective on shares of DTE Energy in a research report on Wednesday, January 3rd. KeyCorp reiterated a “buy” rating and issued a $118.50 price objective on shares of DTE Energy in a research report on Friday, December 15th. Credit Suisse Group cut their price objective on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, October 26th. Finally, Bank of America began coverage on DTE Energy in a research 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, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $114.39.

DTE Energy (DTE) traded down $0.32 during trading hours on Monday, reaching $103.15. The company’s stock had a trading volume of 1,229,400 shares, compared to its average volume of 1,237,685. The stock has a market capitalization of $18,620.00, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.98 and a beta of 0.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.08 and a quick ratio of 0.77. DTE Energy has a 1 year low of $96.56 and a 1 year high of $116.74.

DTE Energy (NYSE:DTE) last released 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 during the quarter, compared to analysts’ expectations of $2.80 billion. DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS. sell-side analysts anticipate that DTE Energy will post 5.54 EPS for the current fiscal year.

In other DTE Energy news, Chairman Gerard M. Anderson sold 12,389 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $112.93, for a total value of $1,399,089.77. Following the sale, the chairman now owns 83,000 shares of the company’s stock, valued at $9,373,190. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of DTE Energy by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 737,342 shares of the utilities provider’s stock valued at $79,382,000 after acquiring an additional 16,125 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of DTE Energy by 3.2% during the third quarter. Parametric Portfolio Associates LLC now owns 494,752 shares of the utilities provider’s stock valued at $53,117,000 after acquiring an additional 15,317 shares during the last quarter. FDO Partners LLC acquired a new stake in shares of DTE Energy during the third quarter valued at $1,771,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of DTE Energy by 5.3% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,187 shares of the utilities provider’s stock valued at $3,026,000 after acquiring an additional 1,425 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in shares of DTE Energy by 272.3% during the third quarter. Shell Asset Management Co. now owns 61,073 shares of the utilities provider’s stock valued at $4,646,000 after acquiring an additional 44,669 shares during the last quarter. 68.29% of the stock is currently owned by institutional investors.

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DTE Energy Company Profile

DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.

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