DTE Energy (DTE) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of DTE Energy (NYSE:DTE) from a hold rating to a buy rating in a report published on Monday morning. Zacks Investment Research currently has $119.00 price objective on the utilities provider’s stock.

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. That said, increasingly stringent government regulations for curbing emissions and operational risks remain major concerns.”

Other equities research analysts also recently issued research reports about the company. Guggenheim reissued a buy rating and set a $121.00 target price on shares of DTE Energy in a report on Wednesday, January 3rd. KeyCorp reissued a buy rating and set a $118.50 target price on shares of DTE Energy in a report on Friday, December 15th. Credit Suisse Group dropped their target price on DTE Energy from $113.00 to $112.00 and set a neutral rating for the company in a report on Thursday, October 26th. Finally, Bank of America assumed coverage on DTE Energy in a report on Tuesday, October 24th. They set an underperform rating and a $112.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $113.75.

Shares of DTE Energy (NYSE:DTE) traded down $1.30 during trading on Monday, reaching $105.68. The company’s stock had a trading volume of 871,656 shares, compared to its average volume of 977,267. DTE Energy has a fifty-two week low of $96.56 and a fifty-two week high of $116.74. The firm has a market cap of $19,190.00, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 3.09 and a beta of 0.23. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 1.20.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the business earned $1.96 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. sell-side analysts expect that DTE Energy will post 5.54 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Monday, December 18th will be issued a dividend of $0.8825 per share. The ex-dividend date is Friday, December 15th. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from DTE Energy’s previous quarterly dividend of $0.83. DTE Energy’s dividend payout ratio (DPR) is currently 64.53%.

In related news, Chairman Gerard M. Anderson sold 12,389 shares of the firm’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 transaction, the chairman now owns 83,000 shares in the company, valued at $9,373,190. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacad Investment Ltd. bought a new position in shares of DTE Energy in the second quarter worth $106,000. Spectrum Management Group Inc. bought a new position in shares of DTE Energy in the third quarter worth $111,000. Sun Life Financial INC increased its position in shares of DTE Energy by 13,030.0% in the second quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 1,303 shares during the period. D.A. Davidson & CO. increased its position in shares of DTE Energy by 36.1% in the second quarter. D.A. Davidson & CO. now owns 1,497 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 397 shares during the period. Finally, Pinebridge Investments L.P. bought a new position in DTE Energy in the second quarter valued at about $161,000. Institutional investors own 68.31% of the company’s stock.

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