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.
About DTE Energy
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