Wall Street Zen upgraded shares of DTE Energy (NYSE:DTE – Free Report) from a sell rating to a hold rating in a report released on Saturday morning.
Other equities research analysts have also issued research reports about the company. Truist Financial dropped their price target on DTE Energy from $165.00 to $158.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. TD Cowen began coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price for the company. Morgan Stanley reissued an “overweight” rating on shares of DTE Energy in a research report on Wednesday, July 22nd. Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a research note on Thursday, July 9th. Finally, Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One equities research 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. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $158.46.
Read Our Latest Report on DTE Energy
DTE Energy Price Performance
DTE Energy (NYSE:DTE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the business posted $1.36 EPS. As a group, analysts predict that DTE Energy will post 7.71 earnings per share for the current fiscal year.
DTE Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a $1.165 dividend. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.3%. DTE Energy’s dividend payout ratio is presently 73.73%.
Insider Activity
In related news, VP Lisa A. Muschong sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $143.72, for a total transaction of $143,720.00. Following the completion of the transaction, the vice president owned 6,233 shares of the company’s stock, valued at $895,806.76. This trade represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On DTE Energy
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC purchased a new stake in shares of DTE Energy in the fourth quarter worth about $25,000. Quest 10 Wealth Builders Inc. raised its position in DTE Energy by 754.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 181 shares in the last quarter. Torren Management LLC purchased a new position in DTE Energy during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new position in DTE Energy in the fourth quarter valued at approximately $29,000. Finally, Key Financial Inc acquired a new position in DTE Energy in the first quarter valued at approximately $29,000. 76.06% of the stock is owned by institutional investors and hedge funds.
About DTE Energy
DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.
Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.
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