DTE Energy (NYSE:DTE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of DTE Energy (NYSE:DTE) have been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $134.31.

Several brokerages recently commented on DTE. Morgan Stanley cut their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Jefferies Financial Group assumed coverage on DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price for the company. Finally, Barclays upped their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th.

Institutional Trading of DTE Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Nordea Investment Management AB grew its holdings in DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after purchasing an additional 211,763 shares during the period. Hancock Whitney Corp boosted its position in DTE Energy by 80.0% during the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after purchasing an additional 5,725 shares during the period. Bank of Montreal Can raised its position in DTE Energy by 19.0% in the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after purchasing an additional 42,960 shares during the period. Point72 DIFC Ltd acquired a new position in DTE Energy during the 3rd quarter worth approximately $650,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of DTE Energy during the third quarter worth $583,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Down 1.6 %

NYSE:DTE opened at $119.05 on Wednesday. The stock has a market cap of $24.66 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.23 and a beta of 0.68. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock has a 50-day simple moving average of $121.36 and a 200-day simple moving average of $121.68.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $1.09 dividend. The ex-dividend date is Monday, December 16th. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.66%. DTE Energy’s payout ratio is 55.28%.

About DTE Energy

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.