DTE Energy (NYSE:DTE) Sees Unusually-High Trading Volume – Here’s What Happened

DTE Energy (NYSE:DTE) saw strong trading volume on Wednesday . 918,574 shares traded hands during mid-day trading, a decline of 14% from the previous session’s volume of 1,070,715 shares.The stock last traded at $125.79 and had previously closed at $125.48.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DTE. KeyCorp raised their target price on shares of DTE Energy from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Mizuho lifted their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Wells Fargo & Company increased their target price on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Finally, Bank of America increased their price objective on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.42.

DTE Energy Stock Down 0.2 %

The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The company has a market capitalization of $25.93 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The firm’s 50-day simple moving average is $124.14 and its two-hundred day simple moving average is $116.41.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the company posted $0.99 EPS. Sell-side analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. ESL Trust Services LLC purchased a new stake in shares of DTE Energy during the 1st quarter valued at $27,000. Rise Advisors LLC increased its position in DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares in the last quarter. Ridgewood Investments LLC acquired a new position in DTE Energy during the second quarter valued at approximately $31,000. Denali Advisors LLC acquired a new stake in shares of DTE Energy in the first quarter worth $34,000. Finally, Salomon & Ludwin LLC increased its holdings in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors 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.