BMO Capital Markets Reiterates Hold Rating for DTE Energy Company (DTE)
A number of other research analysts have also commented on DTE. BidaskClub lowered DTE Energy from a buy rating to a hold rating in a report on Wednesday, July 12th. Jefferies Group LLC reissued a buy rating and set a $117.00 price objective (up previously from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Zacks Investment Research lowered DTE Energy from a buy rating to a hold rating in a report on Wednesday, April 12th. Deutsche Bank AG increased their price objective on DTE Energy from $100.00 to $103.00 and gave the company a hold rating in a report on Tuesday, April 11th. Finally, Barclays PLC reissued an overweight rating and set a $115.00 price objective (up previously from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $108.00.
DTE Energy (NYSE DTE) opened at 107.06 on Friday. The company’s 50-day moving average price is $107.33 and its 200 day moving average price is $103.73. The firm has a market capitalization of $19.21 billion, a price-to-earnings ratio of 18.43 and a beta of 0.21. DTE Energy has a 52-week low of $89.66 and a 52-week high of $111.35.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 EPS. Equities research analysts predict that DTE Energy will post $5.41 earnings per share for the current 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 paid a dividend of $0.825 per share. The ex-dividend date is Friday, September 15th. This represents a $3.30 annualized dividend and a yield of 3.08%. DTE Energy’s payout ratio is 56.60%.
In related 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 completion of the sale, the chief operating officer now owns 115,930 shares in the company, valued at approximately $12,836,928.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Gerard M. Anderson sold 12,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $106.83, for a total value of $1,281,960.00. Following the sale, the chairman now owns 80,000 shares of the company’s stock, valued at approximately $8,546,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,264 shares of company stock valued at $2,414,723. 0.53% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of DTE Energy by 1.2% in the first quarter. Vanguard Group Inc. now owns 18,612,462 shares of the utilities provider’s stock valued at $1,900,519,000 after buying an additional 220,454 shares during the last quarter. BlackRock Inc. increased its stake in shares of DTE Energy by 2,370.1% in the first quarter. BlackRock Inc. now owns 14,475,164 shares of the utilities provider’s stock valued at $1,478,058,000 after buying an additional 13,889,160 shares during the last quarter. State Street Corp increased its stake in shares of DTE Energy by 1.4% in the first quarter. State Street Corp now owns 9,375,298 shares of the utilities provider’s stock valued at $957,313,000 after buying an additional 129,352 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of DTE Energy by 16.4% in the first quarter. AQR Capital Management LLC now owns 3,276,539 shares of the utilities provider’s stock valued at $334,567,000 after buying an additional 461,310 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of DTE Energy by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,911,309 shares of the utilities provider’s stock valued at $195,164,000 after buying an additional 113,658 shares during the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.
About DTE Energy
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