DTE Energy (NYSE:DTE) Upgraded by Edward Jones to “Buy”

DTE Energy (NYSE:DTE) was upgraded by equities research analysts at Edward Jones from a “hold” rating to a “buy” rating in a research report issued on Thursday, Price Targets.com reports.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of DTE Energy from an “overweight” rating to a “neutral” rating and set a $126.00 target price for the company. in a research report on Friday, January 7th. Wells Fargo & Company raised shares of DTE Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $124.00 to $123.00 in a research report on Wednesday, December 1st. Morgan Stanley raised shares of DTE Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $127.00 to $133.00 in a research report on Thursday, January 6th. Evercore ISI raised shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $127.00 price objective for the company in a research report on Friday, September 17th. Finally, Mizuho cut their price objective on shares of DTE Energy from $126.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, November 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $128.30.

Shares of NYSE:DTE opened at $119.38 on Thursday. The stock has a market capitalization of $23.13 billion, a PE ratio of 26.41, a P/E/G ratio of 3.37 and a beta of 0.68. DTE Energy has a 1 year low of $96.40 and a 1 year high of $122.14. The firm has a fifty day moving average price of $115.49 and a 200 day moving average price of $116.25. The company has a current ratio of 1.02, a quick ratio of 0.75 and a debt-to-equity ratio of 1.97.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, October 26th. The utilities provider reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.83 by ($0.11). The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.35 billion. DTE Energy had a return on equity of 12.12% and a net margin of 6.25%. During the same period in the prior year, the firm earned $2.61 EPS. On average, sell-side analysts forecast that DTE Energy will post 5.9 earnings per share for the current fiscal year.

In related news, SVP Joann Chavez sold 500 shares of the stock in a transaction dated Thursday, December 2nd. The shares were sold at an average price of $110.78, for a total value of $55,390.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Beacon Capital Management Inc. bought a new stake in DTE Energy during the third quarter worth about $29,000. Mascoma Wealth Management LLC bought a new stake in DTE Energy during the third quarter worth about $33,000. Destiny Wealth Partners LLC bought a new stake in DTE Energy during the third quarter worth about $38,000. Samalin Investment Counsel LLC bought a new stake in DTE Energy during the second quarter worth about $45,000. Finally, Strategic Blueprint LLC bought a new stake in DTE Energy during the second quarter worth about $47,000. 72.22% of the stock is currently owned by hedge funds and other institutional investors.

About DTE Energy

DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.

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Analyst Recommendations for DTE Energy (NYSE:DTE)

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