DTE Energy (NYSE:DTE) Rating Lowered to “Sell” at Wall Street Zen

DTE Energy (NYSE:DTE) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Monday, Wall Street Zen reports.

A number of other research firms have also recently commented on DTE. BMO Capital Markets increased their target price on DTE Energy from $134.00 to $139.00 and gave the company a “market perform” rating in a research note on Friday. Morgan Stanley lowered their price target on DTE Energy from $148.00 to $141.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Barclays dropped their price target on DTE Energy from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Friday. JPMorgan Chase & Co. lifted their price target on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Mizuho cut their price objective on DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $151.85.

DTE Energy Price Performance

DTE stock opened at $129.34 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. DTE Energy has a one year low of $119.68 and a one year high of $155.74. The stock has a market cap of $26.91 billion, a PE ratio of 17.70, a P/E/G ratio of 2.50 and a beta of 0.36. The firm has a 50 day simple moving average of $131.28 and a two-hundred day simple moving average of $140.96.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the prior year, the firm earned $1.36 EPS. On average, analysts predict that DTE Energy will post 7.70 EPS for the current fiscal year.

Insider Activity at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the sale, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. The trade was a 6.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Institutional investors have recently made changes to their positions in the business. Carnegie Investment Counsel increased its position in shares of DTE Energy by 3.0% during the third quarter. Carnegie Investment Counsel now owns 12,350 shares of the utilities provider’s stock valued at $1,504,000 after buying an additional 355 shares during the period. Pinnacle Associates Ltd. raised its stake in DTE Energy by 1.9% in the third quarter. Pinnacle Associates Ltd. now owns 6,800 shares of the utilities provider’s stock worth $828,000 after buying an additional 124 shares in the last quarter. Abel Hall LLC purchased a new stake in DTE Energy in the third quarter worth about $248,000. Foguth Wealth Management LLC. lifted its holdings in DTE Energy by 20.9% in the third quarter. Foguth Wealth Management LLC. now owns 6,647 shares of the utilities provider’s stock worth $862,000 after buying an additional 1,147 shares during the period. Finally, Peddock Capital Advisors LLC lifted its holdings in DTE Energy by 3.6% in the third quarter. Peddock Capital Advisors LLC now owns 11,747 shares of the utilities provider’s stock worth $1,431,000 after buying an additional 410 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.