DTE Energy Company (DTE) Receives Average Rating of “Buy” from Brokerages

Shares of DTE Energy Company (NYSE:DTE) have been assigned an average rating of “Buy” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $108.44.

A number of research firms have issued reports on DTE. Jefferies Group LLC reissued a “buy” rating and set a $121.00 target price on shares of DTE Energy in a research report on Tuesday, August 29th. KeyCorp reaffirmed a “buy” rating and set a $113.00 price target on shares of DTE Energy in a research report on Sunday, August 27th. BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $111.00 price target on shares of DTE Energy in a research report on Friday, July 28th.

DTE Energy (DTE) opened at 113.51 on Tuesday. DTE Energy has a 52 week low of $89.66 and a 52 week high of $113.71. The stock has a market cap of $20.36 billion, a PE ratio of 19.54 and a beta of 0.22. The company’s 50-day moving average is $109.80 and its 200 day moving average is $106.20.

DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the business posted $0.98 EPS. DTE Energy’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, analysts expect that DTE Energy will post $5.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.30 annualized dividend and a yield of 2.91%. DTE Energy’s dividend payout ratio is presently 56.60%.

In related news, Chairman Gerard M. Anderson sold 12,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $106.83, for a total value of $1,281,960.00. Following the completion of the transaction, the chairman now directly owns 80,000 shares in the company, valued at $8,546,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larry E. Steward sold 9,999 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $107.52, for a total value of $1,075,092.48. Following the completion of the transaction, the insider now owns 39,698 shares of the company’s stock, valued at $4,268,328.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,631 shares of company stock valued at $2,756,681. 0.53% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. purchased a new stake in DTE Energy during the second quarter valued at about $106,000. Gradient Investments LLC grew its position in 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 during the period. Sun Life Financial INC grew its position in 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 during the period. Vantage Investment Advisors LLC grew its position in 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 during the period. Finally, Tortoise Capital Advisors L.L.C. grew its position in 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 during the period. Hedge funds and other institutional investors own 68.63% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “DTE Energy Company (DTE) Receives Average Rating of “Buy” from Brokerages” was posted by Markets Daily and is the property of of Markets Daily. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The original version of this news story can be accessed at https://www.themarketsdaily.com/2017/09/12/dte-energy-company-dte-receives-average-rating-of-buy-from-brokerages.html.

About DTE Energy

Analyst Recommendations for DTE Energy (NYSE:DTE)

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.

Latest News

Leave a Reply