DTE Energy (NYSE:DTE) Reaches New 1-Year Low on Analyst Downgrade

DTE Energy Company (NYSE:DTE) shares hit a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $148.00 to $141.00. Morgan Stanley currently has an overweight rating on the stock. DTE Energy traded as low as $126.23 and last traded at $126.2940, with a volume of 597707 shares traded. The stock had previously closed at $128.52.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Mizuho dropped their price objective on shares of DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a research note on Thursday, August 27th. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. TD Cowen started coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price for the company. Finally, BMO Capital Markets lowered their target price on DTE Energy from $150.00 to $143.00 and set a “market perform” rating for the company in a report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.46.

Insider Transactions at DTE Energy

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the transaction, the insider directly owned 73,122 shares of the company’s stock, valued at $9,923,386.62. The trade was a 6.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in DTE. BlackRock Inc. acquired a new position in DTE Energy during the 2nd quarter worth $3,915,284,000. Jupiter Topco LLC acquired a new position in shares of DTE Energy during the second quarter valued at $477,264,000. Bank of America Corp DE bought a new stake in shares of DTE Energy during the second quarter valued at about $417,001,000. Millennium Management LLC lifted its holdings in DTE Energy by 227.4% in the fourth quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after purchasing an additional 1,895,631 shares during the period. Finally, Legal & General Group Plc acquired a new stake in DTE Energy in the second quarter worth about $199,563,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Down 1.8%

The stock’s 50-day moving average is $139.60 and its 200-day moving average is $144.26. The stock has a market cap of $26.27 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.79 and a beta of 0.37. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the company earned $1.36 EPS. As a group, research analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Company Profile

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.