DTE Energy (NYSE:DTE) Given Average Rating of “Moderate Buy” by Brokerages

DTE Energy (NYSE:DTE) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $140.93.

Several research firms recently issued reports on DTE. Morgan Stanley cut their target price on DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Citigroup reiterated a “buy” rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Guggenheim raised their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. Finally, Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a report on Friday, May 16th.

Hedge Funds Weigh In On DTE Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Cloud Capital Management LLC purchased a new position in shares of DTE Energy in the 1st quarter worth approximately $25,000. Olde Wealth Management LLC purchased a new position in shares of DTE Energy in the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of DTE Energy during the 1st quarter worth approximately $28,000. SouthState Corp bought a new stake in shares of DTE Energy during the 1st quarter worth approximately $29,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of DTE Energy during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

NYSE:DTE opened at $135.11 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a 12-month low of $108.40 and a 12-month high of $140.39. The stock has a 50-day moving average price of $134.77 and a 200 day moving average price of $129.18. The stock has a market capitalization of $28.04 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.41 and a beta of 0.45.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the business posted $1.67 earnings per share. Equities research analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, June 16th. DTE Energy’s dividend payout ratio (DPR) is 58.92%.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.