KeyCorp restated their buy rating on shares of DTE Energy Company (NYSE:DTE) in a report released on Sunday. The brokerage currently has a $113.00 price target on the utilities provider’s stock.
DTE has been the subject of a number of other research reports. Zacks Investment Research lowered DTE Energy from a buy rating to a hold rating in a research note on Monday, July 31st. BMO Capital Markets restated a hold rating and set a $111.00 price objective on shares of DTE Energy in a research note on Friday, July 28th. Finally, BidaskClub upgraded DTE Energy from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $108.80.
DTE Energy (NYSE:DTE) traded up 0.45% during mid-day trading on Friday, reaching $112.00. 307,306 shares of the company were exchanged. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 19.28 and a beta of 0.21. The stock’s 50-day moving average price is $107.96 and its 200-day moving average price is $105.15. DTE Energy has a 1-year low of $89.66 and a 1-year high of $112.35.
DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, equities research analysts anticipate that DTE Energy will post $5.41 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, September 15th. DTE Energy’s dividend payout ratio is presently 56.60%.
In other DTE Energy news, COO Gerardo Norcia sold 4,838 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $110.73, for a total transaction of $535,711.74. Following the transaction, the chief operating officer now owns 115,930 shares of the company’s stock, valued at approximately $12,836,928.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Bruce D. Peterson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $110.08, for a total value of $550,400.00. Following the transaction, the senior vice president now directly owns 29,156 shares in the company, valued at approximately $3,209,492.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,895 shares of company stock worth $3,889,444. 0.53% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacad Investment Ltd. bought a new stake in shares of DTE Energy during the second quarter valued at about $106,000. Gradient Investments LLC increased its stake in shares of DTE Energy by 0.3% in the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock valued at $111,000 after buying an additional 3 shares during the period. Whittier Trust Co. increased its stake in shares of DTE Energy by 1.1% in the first quarter. Whittier Trust Co. now owns 1,279 shares of the utilities provider’s stock valued at $131,000 after buying an additional 14 shares during the period. Sun Life Financial INC increased its stake in shares of 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 valued at $139,000 after buying an additional 1,303 shares during the period. Finally, Vantage Investment Advisors LLC increased its stake in shares of DTE Energy by 0.8% in the second quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock valued at $140,000 after buying an additional 10 shares during the period. 68.55% of the stock is currently owned by institutional investors.
DTE Energy Company Profile
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