Wall Street Zen downgraded shares of DTE Energy (NYSE:DTE – Free Report) from a hold rating to a sell rating in a research report report published on Monday,Wall Street Zen reports.
Several other equities analysts have also issued reports on the company. BMO Capital Markets raised their price objective on DTE Energy from $134.00 to $139.00 and gave the stock a “market perform” rating in a report on Friday. Truist Financial set a $139.00 target price on DTE Energy in a research report on Friday. Jefferies Financial Group set a $172.00 target price on DTE Energy in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Mizuho dropped their price target on DTE Energy from $152.00 to $136.00 and set an “outperform” rating on the stock in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $151.85.
Read Our Latest Analysis on DTE Energy
DTE Energy Trading Down 2.1%
Shares of DTE Energy stock opened at $126.95 on Monday. The company has a fifty day simple moving average of $131.45 and a 200-day simple moving average of $141.09. DTE Energy has a 12-month low of $119.68 and a 12-month high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The stock has a market cap of $26.42 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.56 and a beta of 0.36.
DTE Energy (NYSE:DTE – Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the firm posted $1.36 EPS. On average, equities analysts forecast that DTE Energy will post 7.70 EPS for the current fiscal year.
Insider Buying and Selling
In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of DTE Energy stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the transaction, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.
Institutional Investors Weigh In On DTE Energy
Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of DTE Energy during the 2nd quarter worth $3,915,284,000. Jupiter Topco LLC acquired a new stake in DTE Energy in the 2nd quarter valued at about $477,264,000. Janus Henderson Group PLC grew its stake in DTE Energy by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock valued at $451,022,000 after acquiring an additional 40,346 shares during the last quarter. Bank of America Corp DE acquired a new stake in DTE Energy in the 2nd quarter valued at about $417,001,000. Finally, Soroban Capital Partners LP increased its holdings in DTE Energy by 2.0% during the 1st quarter. Soroban Capital Partners LP now owns 2,038,473 shares of the utilities provider’s stock valued at $298,066,000 after acquiring an additional 39,963 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.
About DTE Energy
DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.
DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.
DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.
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