DTE Energy (NYSE:DTE) Rating Increased to Buy at Edward Jones

DTE Energy (NYSE:DTE) was upgraded by research analysts at Edward Jones from a “hold” rating to a “buy” rating in a report released on Thursday, PriceTargets.com reports.

Other equities research analysts have also recently issued research reports about the company. Mizuho lowered their target price on DTE Energy from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Monday, November 22nd. Morgan Stanley upgraded DTE Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $127.00 to $133.00 in a report on Thursday, January 6th. Evercore ISI upgraded DTE Energy from an “in-line” rating to an “outperform” rating and set a $127.00 price objective on the stock in a report on Friday, September 17th. JPMorgan Chase & Co. cut DTE Energy from an “overweight” rating to a “neutral” rating and set a $126.00 price objective on the stock. in a report on Friday, January 7th. Finally, Wells Fargo & Company upgraded DTE Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $124.00 to $123.00 in a report on Wednesday, December 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $128.30.

Shares of NYSE:DTE opened at $119.38 on Thursday. The business’s fifty day moving average price is $115.49 and its two-hundred day moving average price is $116.25. The stock has a market cap of $23.13 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.37 and a beta of 0.68. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.75 and a current ratio of 1.02. DTE Energy has a one year low of $96.40 and a one year high of $122.14.

DTE Energy (NYSE:DTE) last announced its earnings results on Tuesday, October 26th. The utilities provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.11). The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.35 billion. DTE Energy had a net margin of 6.25% and a return on equity of 12.12%. During the same quarter last year, the company posted $2.61 EPS. As a group, equities research analysts predict that DTE Energy will post 5.9 earnings per share for the current fiscal year.

In other DTE Energy news, SVP Joann Chavez sold 500 shares of the firm’s stock in a transaction dated Thursday, December 2nd. The stock was sold at an average price of $110.78, for a total value of $55,390.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its position in shares of DTE Energy by 1.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,957 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 90 shares during the last quarter. Probity Advisors Inc. increased its position in shares of DTE Energy by 1.4% during the third quarter. Probity Advisors Inc. now owns 7,053 shares of the utilities provider’s stock worth $788,000 after acquiring an additional 97 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of DTE Energy by 3.7% during the third quarter. Gateway Investment Advisers LLC now owns 2,782 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 100 shares during the last quarter. Copperwynd Financial LLC increased its position in shares of DTE Energy by 2.7% during the second quarter. Copperwynd Financial LLC now owns 3,813 shares of the utilities provider’s stock worth $494,000 after acquiring an additional 102 shares during the last quarter. Finally, Greenleaf Trust increased its position in shares of DTE Energy by 3.0% during the second quarter. Greenleaf Trust now owns 3,655 shares of the utilities provider’s stock worth $474,000 after acquiring an additional 107 shares during the last quarter. 72.22% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Company Profile

DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.

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Analyst Recommendations for DTE Energy (NYSE:DTE)

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