DTE Energy Co. (DTE) Stock Rating Lowered by Zacks Investment Research
DTE Energy Co. (NYSE:DTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “DTE Energy’s focus on improving its cost structure and making capital investments in renewable generation, utility infrastructure, environmental compliance assets and reliability of its electric utility systems is appreciable. It has plans for billions of dollars worth of capital investment through 2020 to drive growth. Improving economic fundamentals in Michigan are an added stimulus for the company. However, the current macro backdrop, including low natural gas prices and a slowly evolving U.S. economy, may pose challenges for GS&P and P&I to achieve earnings targets. Again, increasingly stringent government regulations for curbing emissions, dependence on electric and gas rates fixed by three MPSC and the FERC and operational risks are major causes of concern.”
Other equities analysts have also issued reports about the company. KeyCorp set a $105.00 price objective on DTE Energy and gave the company a “buy” rating in a research note on Monday, September 12th. Barclays PLC reaffirmed a “buy” rating and issued a $108.00 price objective on shares of DTE Energy in a research note on Thursday, July 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $103.20.
DTE Energy (NYSE:DTE) opened at 94.88 on Tuesday. The firm has a 50-day moving average of $94.27 and a 200 day moving average of $92.94. DTE Energy has a 52 week low of $77.35 and a 52 week high of $100.45. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 22.91 and a beta of 0.26.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. DTE Energy had a return on equity of 10.00% and a net margin of 7.51%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $0.76 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts anticipate that DTE Energy will post $5.13 EPS for the current year.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the transaction, the chairman now directly owns 77,500 shares of the company’s stock, valued at approximately $7,591,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company’s stock.
Large investors have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in DTE Energy during the second quarter valued at about $718,000. Kentucky Retirement Systems acquired a new stake in DTE Energy during the second quarter valued at about $1,512,000. Mason Street Advisors LLC acquired a new stake in DTE Energy during the second quarter valued at about $2,396,000. Royal Bank of Canada increased its stake in DTE Energy by 25.9% in the second quarter. Royal Bank of Canada now owns 1,504,616 shares of the company’s stock valued at $149,138,000 after buying an additional 309,115 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in DTE Energy by 2.6% in the second quarter. IFP Advisors Inc now owns 15,628 shares of the company’s stock valued at $1,549,000 after buying an additional 390 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.
About DTE Energy
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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