DTE Energy (NYSE:DTE) Stock Price Expected to Rise, Guggenheim Analyst Says

DTE Energy (NYSE:DTE) had its price objective hoisted by Guggenheim from $139.00 to $147.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other brokerages also recently weighed in on DTE. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Scotiabank upped their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets increased their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.58.

DTE Energy Trading Up 0.2 %

NYSE DTE opened at $137.18 on Friday. The firm’s 50 day moving average price is $127.38 and its two-hundred day moving average price is $124.86. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a twelve month low of $103.06 and a twelve month high of $138.22. The stock has a market cap of $28.47 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Equities analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.18%. DTE Energy’s dividend payout ratio is 64.40%.

Insider Transactions at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,877 shares of company stock worth $1,559,205. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of DTE Energy by 16.0% during the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after buying an additional 336 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of DTE Energy by 72.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after acquiring an additional 2,642 shares during the period. Nordea Investment Management AB boosted its stake in shares of DTE Energy by 2,235.2% in the 4th 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 last quarter. Patton Albertson Miller Group LLC boosted its stake in DTE Energy by 7.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after acquiring an additional 3,306 shares during the last quarter. Finally, Hancock Whitney Corp grew its stake in shares of DTE Energy by 80.0% during the third 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. 76.06% of the stock is currently owned by institutional investors and hedge funds.

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.