UBS Group assumed coverage on shares of DTE Energy (NYSE:DTE) in a research note issued to investors on Friday morning, www.benzinga.com reports. The firm issued a neutral rating and a $108.00 target price on the utilities provider’s stock.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded DTE Energy from a buy rating to a hold rating in a research report on Monday, January 22nd. Wells Fargo & Co upgraded DTE Energy from a market perform rating to an outperform rating in a research report on Friday, January 12th. Guggenheim restated a buy rating and set a $121.00 price objective on shares of DTE Energy in a research report on Wednesday, January 3rd. KeyCorp restated a buy rating and set a $118.50 price objective on shares of DTE Energy in a research report on Friday, December 15th. Finally, Credit Suisse Group lowered their price objective on DTE Energy from $113.00 to $112.00 and set a neutral rating for the company in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $113.75.
DTE Energy (NYSE DTE) opened at $102.00 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.08 and a quick ratio of 0.77. The company has a market capitalization of $18,300.00, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.98 and a beta of 0.14. DTE Energy has a 1 year low of $96.56 and a 1 year high of $116.74.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, March 19th will be given a dividend of $0.8825 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.46%. DTE Energy’s dividend payout ratio (DPR) is 64.53%.
In other news, Chairman Gerard M. Anderson sold 12,389 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the completion of the transaction, the chairman now directly owns 83,000 shares in the company, valued at $9,373,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of DTE. Spectrum Management Group Inc. bought a new stake in DTE Energy in the third quarter worth approximately $111,000. SeaCrest Wealth Management LLC bought a new stake in DTE Energy in the fourth quarter worth approximately $138,000. D.A. Davidson & CO. increased its holdings in DTE Energy by 36.1% in the second quarter. D.A. Davidson & CO. now owns 1,497 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 397 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in DTE Energy in the second quarter worth approximately $161,000. Finally, Lenox Wealth Advisors Inc. bought a new stake in DTE Energy in the fourth quarter worth approximately $190,000. Institutional investors and hedge funds own 68.16% of the company’s stock.
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DTE Energy Company Profile
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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