DTE Energy (NYSE:DTE) Stock Rating Lowered by Wall Street Zen

DTE Energy (NYSE:DTE – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also weighed in on the stock. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. Truist Financial cut their price target 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. BMO Capital Markets reduced their price target on shares of DTE Energy from $143.00 to $132.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 29th. Mizuho reduced their price target on shares of DTE Energy from $152.00 to $136.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.38.

Check Out Our Latest Report on DTE Energy

DTE Energy Price Performance

Shares of DTE stock opened at $124.39 on Friday. The stock’s fifty day simple moving average is $134.58 and its 200 day simple moving average is $142.44. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The firm has a market cap of $25.88 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.45 and a beta of 0.36. DTE Energy has a one year low of $119.68 and a one year high of $155.74.

DTE Energy (NYSE:DTE – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the prior year, the business posted $1.36 earnings per share. On average, analysts expect that DTE Energy will post 7.71 earnings per share 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 value of $678,550.00. Following the completion of the sale, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DTE. GoalVest Advisory LLC lifted its position in DTE Energy by 2.9% during the 3rd quarter. GoalVest Advisory LLC now owns 8,256 shares of the utilities provider’s stock worth $1,006,000 after buying an additional 234 shares in the last quarter. QRG Capital Management Inc. increased its position in DTE Energy by 5.7% in the 2nd quarter. QRG Capital Management Inc. now owns 28,810 shares of the utilities provider’s stock valued at $4,390,000 after acquiring an additional 1,545 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in DTE Energy by 5.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,272 shares of the utilities provider’s stock valued at $651,000 after acquiring an additional 235 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of DTE Energy by 68.0% in the second quarter. Anchor Investment Management LLC now owns 284 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 115 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of DTE Energy by 5.7% in the second quarter. Sequoia Financial Advisors LLC now owns 24,355 shares of the utilities provider’s stock worth $3,711,000 after acquiring an additional 1,319 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy News Roundup

Here are the key news stories impacting DTE Energy this week:

  • Positive Sentiment: Michigan regulators approved 20-year power-supply contracts between DTE and Google for a large data center in Wayne County. The agreement could provide DTE with a sizable, long-duration commercial customer and greater visibility into future electricity demand. State regulators approve 20-year DTE contracts for Google data center in Wayne County
  • Positive Sentiment: DTE completed construction of the 100-megawatt Cold Creek Solar Park near Coldwater, Michigan. The project was funded through Ford Motor Company’s participation in DTE’s MIGreenPower program, supporting Ford’s renewable-energy goals while expanding DTE’s renewable-generation portfolio and customer relationships. DTE Energy completes construction on Cold Creek Solar Park
  • Neutral Sentiment: DTE launched its annual “Month of Warmth” customer-assistance campaign to help households apply for state energy-assistance funding and manage winter bills. The initiative may support customer relations but is unlikely to materially affect near-term earnings. New energy assistance funding opens October 1
  • Negative Sentiment: Ladenburg Thalmann lowered its DTE price target to $135.50 from $153 while retaining a Buy rating. Although the recommendation remains positive, the sizable target reduction signals more cautious expectations and limits near-term upside. Ladenburg Thalmann adjusts price target on DTE Energy
  • Negative Sentiment: BMO Capital Markets also cut its price target, and DTE shares subsequently reached a new 52-week low after an analyst downgrade. The stock remains below its 50-day and 200-day moving averages, reinforcing the current technical weakness. DTE Energy stock price target cut by BMO Capital Markets

DTE Energy Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for DTE Energy (NYSE:DTE)

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