DTE Energy (NYSE:DTE) Receives Average Recommendation of “Buy” from Brokerages

Shares of DTE Energy (NYSE:DTEGet Rating) have received an average rating of “Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $130.91.

Several equities analysts have commented on DTE shares. Argus raised their target price on shares of DTE Energy from $130.00 to $132.00 in a research note on Thursday, March 10th. Citigroup raised their target price on shares of DTE Energy from $134.00 to $146.00 in a research note on Tuesday, May 3rd. Morgan Stanley lowered their target price on shares of DTE Energy from $143.00 to $137.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. StockNews.com assumed coverage on shares of DTE Energy in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Bank of America raised shares of DTE Energy from an “underperform” rating to a “buy” rating and set a $127.00 price objective on the stock in a research note on Tuesday, February 15th.

In related news, VP Lisa A. Muschong sold 600 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $134.28, for a total transaction of $80,568.00. Following the completion of the sale, the vice president now directly owns 3,485 shares in the company, valued at $467,965.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its stake in shares of DTE Energy by 14.3% in the first quarter. Capital Research Global Investors now owns 17,821,764 shares of the utilities provider’s stock worth $2,356,215,000 after buying an additional 2,222,887 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of DTE Energy by 6.6% in the first quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock worth $3,044,624,000 after buying an additional 1,420,586 shares during the last quarter. BlackRock Inc. lifted its stake in shares of DTE Energy by 7.5% in the fourth quarter. BlackRock Inc. now owns 17,332,531 shares of the utilities provider’s stock worth $2,071,930,000 after buying an additional 1,214,632 shares during the last quarter. JPMorgan Chase & Co. increased its position in DTE Energy by 65.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,738,112 shares of the utilities provider’s stock worth $327,311,000 after acquiring an additional 1,083,087 shares during the period. Finally, Neuberger Berman Group LLC increased its position in DTE Energy by 447.7% during the first quarter. Neuberger Berman Group LLC now owns 816,065 shares of the utilities provider’s stock worth $107,927,000 after acquiring an additional 667,058 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Shares of NYSE:DTE opened at $132.79 on Friday. The company has a market cap of $25.73 billion, a PE ratio of 28.56, a P/E/G ratio of 3.67 and a beta of 0.63. The company’s 50-day moving average price is $132.96 and its 200 day moving average price is $123.68. DTE Energy has a fifty-two week low of $107.38 and a fifty-two week high of $140.23. The company has a quick ratio of 0.51, a current ratio of 0.64 and a debt-to-equity ratio of 1.76.

DTE Energy (NYSE:DTEGet Rating) last released its earnings results on Thursday, April 28th. The utilities provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.06 by $0.25. The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $3.53 billion. DTE Energy had a net margin of 5.59% and a return on equity of 13.58%. During the same quarter last year, the company earned $2.44 EPS. As a group, equities analysts anticipate that DTE Energy will post 6.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Monday, June 20th will be issued a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, June 16th. DTE Energy’s dividend payout ratio is currently 76.13%.

DTE Energy Company Profile (Get Rating)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 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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