BidaskClub upgraded shares of DTE Energy Company (NYSE:DTE) from a hold rating to a buy rating in a research report report published on Tuesday morning.
A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of DTE Energy from a buy rating to a hold rating in a research report on Monday, July 31st. BMO Capital Markets restated a hold rating and set a $111.00 price target on shares of DTE Energy in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a buy rating and set a $117.00 price target (up from $108.50) on shares of DTE Energy in a research report on Thursday, April 27th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $108.00.
Shares of DTE Energy (NYSE:DTE) opened at 111.74 on Tuesday. The stock’s 50 day moving average price is $107.79 and its 200-day moving average price is $105.05. The firm has a market capitalization of $20.05 billion, a PE ratio of 19.24 and a beta of 0.21. DTE Energy has a 52-week low of $89.66 and a 52-week high of $112.15.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm earned $0.98 EPS. DTE Energy’s revenue was up 26.2% on a year-over-year basis. Equities research analysts anticipate that DTE Energy will post $5.41 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.95%. DTE Energy’s payout ratio is currently 56.60%.
In related news, insider Larry E. Steward sold 9,999 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $107.52, for a total value of $1,075,092.48. Following the sale, the insider now directly owns 39,698 shares in the company, valued at approximately $4,268,328.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark W. Stiers sold 3,632 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $110.03, for a total transaction of $399,628.96. Following the completion of the sale, the insider now owns 25,257 shares in the company, valued at $2,779,027.71. The disclosure for this sale can be found here. Insiders sold a total of 35,895 shares of company stock worth $3,889,444 over the last quarter. Insiders own 0.53% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Pacad Investment Ltd. acquired a new stake in DTE Energy during the second quarter worth approximately $106,000. Gradient Investments LLC increased its stake in DTE Energy by 0.3% in the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock worth $111,000 after buying an additional 3 shares during the last quarter. Whittier Trust Co. increased its stake in DTE Energy by 1.1% in the first quarter. Whittier Trust Co. now owns 1,279 shares of the utilities provider’s stock worth $131,000 after buying an additional 14 shares during the last quarter. Sun Life Financial INC increased its stake in DTE Energy by 13,030.0% in the second quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock worth $139,000 after buying an additional 1,303 shares during the last quarter. Finally, Vantage Investment Advisors LLC increased its stake in DTE Energy by 0.8% in the second quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock worth $140,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 67.99% of the company’s stock.
DTE Energy Company Profile
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