DTE Energy (NYSE:DTE) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of DTE Energy (NYSE:DTE) from a sell rating to a hold rating in a report published on Saturday.

Other research analysts have also recently issued reports about the company. TD Cowen began coverage on DTE Energy in a research report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Mizuho cut their target price on DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets boosted their target price on DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of DTE Energy in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.46.

DTE Energy Price Performance

Shares of DTE opened at $141.94 on Friday. DTE Energy has a twelve month low of $126.23 and a twelve month high of $155.74. The firm’s fifty day simple moving average is $147.60 and its 200-day simple moving average is $144.78. The firm has a market capitalization of $29.54 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.10 and a beta of 0.38. The company has a current ratio of 0.80, a quick ratio of 0.69 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last issued its 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 during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.36 earnings per share. Equities analysts forecast that DTE Energy will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be issued a $1.165 dividend. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is currently 73.73%.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,000 shares of DTE Energy stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $143.72, for a total value of $143,720.00. Following the sale, the vice president directly owned 6,233 shares in the company, valued at $895,806.76. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in DTE Energy by 44.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 188,845 shares of the utilities provider’s stock worth $24,618,000 after buying an additional 57,698 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of DTE Energy in the 1st quarter worth approximately $1,550,000. Convergence Investment Partners LLC purchased a new position in DTE Energy in the 1st quarter valued at approximately $3,142,000. Capital Innovations LLC purchased a new position in DTE Energy in the 4th quarter valued at approximately $1,014,000. Finally, Aberdeen Group plc increased its stake in DTE Energy by 12.8% in the 4th quarter. Aberdeen Group plc now owns 105,436 shares of the utilities provider’s stock valued at $13,599,000 after purchasing an additional 11,972 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.