DTE Energy (NYSE:DTE) had its target price increased by equities researchers at Credit Suisse Group from $110.00 to $113.00 in a research report issued to clients and investors on Monday. The brokerage presently has an “underperform” rating on the utilities provider’s stock. Credit Suisse Group’s price objective suggests a potential downside of 4.90% from the stock’s previous close.
A number of other analysts have also issued reports on DTE. Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Thursday, January 24th. ValuEngine raised shares of DTE Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Macquarie set a $123.00 price objective on shares of DTE Energy and gave the stock a “buy” rating in a report on Saturday. Bank of America upped their price objective on shares of DTE Energy from $101.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 25th. Finally, Goldman Sachs Group initiated coverage on shares of DTE Energy in a report on Wednesday, January 16th. They issued a “buy” rating and a $121.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. DTE Energy currently has a consensus rating of “Hold” and a consensus target price of $117.42.
Shares of DTE traded up $0.26 during mid-day trading on Monday, reaching $118.82. 24,085 shares of the stock traded hands, compared to its average volume of 986,990. The firm has a market capitalization of $21.57 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.19 and a beta of 0.27. DTE Energy has a 12-month low of $94.25 and a 12-month high of $121.00. The company has a quick ratio of 0.55, a current ratio of 0.73 and a debt-to-equity ratio of 1.13.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 7th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $2.35 billion. DTE Energy had a net margin of 7.88% and a return on equity of 10.85%. During the same quarter in the prior year, the business earned $1.26 EPS. Equities analysts expect that DTE Energy will post 6.19 earnings per share for the current fiscal year.
In other news, insider Peter B. Oleksiak sold 1,850 shares of the company’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $118.67, for a total value of $219,539.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Gerard M. Anderson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $119.73, for a total value of $1,197,300.00. Following the completion of the transaction, the chairman now owns 84,858 shares in the company, valued at approximately $10,160,048.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,040 shares of company stock worth $1,919,640. 0.59% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in DTE Energy by 1.6% during the third quarter. Vanguard Group Inc. now owns 19,856,235 shares of the utilities provider’s stock worth $2,166,911,000 after purchasing an additional 311,679 shares during the period. Vanguard Group Inc boosted its position in DTE Energy by 1.6% during the third quarter. Vanguard Group Inc now owns 19,856,235 shares of the utilities provider’s stock worth $2,166,911,000 after purchasing an additional 311,679 shares during the period. Capital World Investors boosted its position in DTE Energy by 17.0% during the third quarter. Capital World Investors now owns 16,272,144 shares of the utilities provider’s stock worth $1,775,779,000 after purchasing an additional 2,367,000 shares during the period. BlackRock Inc. boosted its position in DTE Energy by 3.9% during the fourth quarter. BlackRock Inc. now owns 15,212,035 shares of the utilities provider’s stock worth $1,677,888,000 after purchasing an additional 577,066 shares during the period. Finally, Renaissance Technologies LLC boosted its position in DTE Energy by 17.8% during the third quarter. Renaissance Technologies LLC now owns 2,969,900 shares of the utilities provider’s stock worth $324,105,000 after purchasing an additional 447,750 shares during the period. 74.33% of the stock is owned by institutional investors and hedge funds.
DTE Energy Company Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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