DTE Energy Co (DTE) Receives Consensus Rating of “Hold” from Analysts
Shares of DTE Energy Co (NYSE:DTE) have been assigned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $116.18.
DTE has been the subject of a number of recent research reports. ValuEngine downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Goldman Sachs Group initiated coverage on shares of DTE Energy in a report on Wednesday, January 16th. They issued a “buy” rating and a $121.00 price objective for the company. Credit Suisse Group downgraded shares of DTE Energy from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $109.00 to $111.00 in a report on Thursday, October 25th. Wolfe Research downgraded shares of DTE Energy from an “outperform” rating to a “hold” rating in a report on Friday, October 26th. Finally, Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Thursday, January 24th.
DTE stock opened at $119.81 on Tuesday. The stock has a market capitalization of $21.80 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 3.22 and a beta of 0.27. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.55. DTE Energy has a 12 month low of $94.25 and a 12 month high of $121.00.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 18th will be issued a dividend of $0.945 per share. The ex-dividend date is Friday, March 15th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 3.15%. DTE Energy’s dividend payout ratio is currently 60.00%.
In other news, Chairman Gerard M. Anderson sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $119.39, for a total transaction of $1,313,290.00. Following the completion of the sale, the chairman now owns 79,906 shares in the company, valued at approximately $9,539,977.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.59% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC boosted its position in shares of DTE Energy by 7.2% during the 4th quarter. Advisory Services Network LLC now owns 8,683 shares of the utilities provider’s stock worth $958,000 after purchasing an additional 586 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of DTE Energy by 1.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 74,636 shares of the utilities provider’s stock worth $8,232,000 after purchasing an additional 854 shares during the period. HRT Financial LLC purchased a new position in shares of DTE Energy during the 4th quarter worth approximately $221,000. Kaizen Advisory LLC boosted its position in shares of DTE Energy by 29.0% during the 4th quarter. Kaizen Advisory LLC now owns 481 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 108 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of DTE Energy by 37.2% during the 4th quarter. Macquarie Group Ltd. now owns 94,173 shares of the utilities provider’s stock worth $10,387,000 after purchasing an additional 25,550 shares during the period. Institutional investors and hedge funds own 74.33% of the company’s stock.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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