DTE Energy (NYSE:DTE) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of DTE Energy (NYSE:DTE) from a sell rating to a hold rating in a research note issued to investors on Sunday,Wall Street Zen reports.

A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of DTE Energy from $132.00 to $134.00 and gave the company a “market perform” rating in a research report on Monday, October 5th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research note on Thursday, July 9th. Weiss Ratings cut shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Mizuho decreased their target price on shares of DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. Finally, Truist Financial lowered their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $154.54.

DTE Energy Price Performance

Shares of DTE stock opened at $126.80 on Friday. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.50 and a beta of 0.36. The business’s fifty day moving average is $132.85 and its 200 day moving average is $141.78. DTE Energy has a twelve month low of $119.68 and a twelve month high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data 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 return on equity of 12.19% and a net margin of 8.00%. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the firm posted $1.36 earnings per share. Research analysts expect that DTE Energy will post 7.71 EPS for the current fiscal year.

Insider Activity at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was 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 in the company, valued at $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

Several large investors have recently modified their holdings of the stock. Riversedge Advisors LLC bought a new stake in shares of DTE Energy in the third quarter worth $303,000. Wedmont Private Capital increased its position in DTE Energy by 56.5% during the third quarter. Wedmont Private Capital now owns 2,224 shares of the utilities provider’s stock valued at $283,000 after acquiring an additional 803 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in DTE Energy by 7.9% in the third quarter. Farther Finance Advisors LLC now owns 12,817 shares of the utilities provider’s stock valued at $1,561,000 after acquiring an additional 937 shares during the period. CoreCap Advisors LLC lifted its holdings in DTE Energy by 1.5% in the third quarter. CoreCap Advisors LLC now owns 32,792 shares of the utilities provider’s stock valued at $3,994,000 after acquiring an additional 481 shares during the period. Finally, Apella Capital LLC lifted its holdings in DTE Energy by 10.3% in the third quarter. Apella Capital LLC now owns 5,707 shares of the utilities provider’s stock valued at $726,000 after acquiring an additional 534 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy Company is a diversified energy company headquartered in Detroit, Michigan. Through its regulated utility operations, the company generates, transmits and distributes electricity and purchases, stores, transports and distributes natural gas. Its utility services primarily support residential, commercial and industrial customers across southeastern Michigan.

DTE Energy also operates businesses involved in energy-related products and services, including renewable energy, energy management, power and industrial projects, and other nonutility activities.