Jefferies Financial Group Initiates Coverage on DTE Energy (NYSE:DTE)

Jefferies Financial Group started coverage on shares of DTE Energy (NYSE:DTE) in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $137.00 price objective on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Mizuho lifted their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Morgan Stanley lifted their price objective on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, KeyCorp lifted their price objective on shares of DTE Energy from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.38.

DTE Energy Price Performance

DTE opened at $127.95 on Monday. The company’s 50 day simple moving average is $125.23 and its 200 day simple moving average is $117.45. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. DTE Energy has a 1 year low of $92.58 and a 1 year high of $129.53. The stock has a market capitalization of $26.48 billion, a PE ratio of 20.94, a P/E/G ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, sell-side analysts expect that DTE Energy will post 6.7 EPS for the current year.

Institutional Investors Weigh In On DTE Energy

Institutional investors have recently bought and sold shares of the stock. UniSuper Management Pty Ltd lifted its holdings in DTE Energy by 407.3% in the first quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock worth $1,202,000 after purchasing an additional 8,603 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in DTE Energy by 9.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock worth $13,934,000 after purchasing an additional 11,218 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in DTE Energy by 6.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock worth $25,139,000 after purchasing an additional 14,022 shares during the period. Canada Pension Plan Investment Board lifted its holdings in DTE Energy by 12.6% in the first quarter. Canada Pension Plan Investment Board now owns 381,985 shares of the utilities provider’s stock worth $42,836,000 after purchasing an additional 42,635 shares during the period. Finally, Founders Financial Securities LLC acquired a new stake in DTE Energy in the first quarter worth about $802,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.