DTE Energy Co. (DTE) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of DTE Energy Co. (NYSE:DTE) from a hold rating to a buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $106.00 price objective on the stock.
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.”
DTE has been the topic of a number of other reports. BMO Capital Markets reissued a hold rating on shares of DTE Energy in a research note on Wednesday, June 22nd. KeyCorp reissued an outperform rating and issued a $102.50 price objective (up from $97.00) on shares of DTE Energy in a research note on Saturday, July 2nd. Barclays PLC reissued a buy rating and issued a $108.00 price objective on shares of DTE Energy in a research note on Thursday, July 28th. Finally, Macquarie increased their price objective on shares of DTE Energy from $105.00 to $107.00 and gave the company an outperform rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $103.20.
Shares of DTE Energy (NYSE:DTE) traded down 1.00% during midday trading on Wednesday, hitting $93.93. 346,200 shares of the company’s stock were exchanged. The firm has a market cap of $16.85 billion, a PE ratio of 22.68 and a beta of 0.26. The stock’s 50-day moving average price is $94.27 and its 200 day moving average price is $92.94. DTE Energy has a one year low of $77.35 and a one year high of $100.45.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.09. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. Equities research analysts forecast 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 firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $97.96, for a total value of $1,714,300.00. Following the transaction, the chairman now owns 77,500 shares in the company, valued at $7,591,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new stake in shares of DTE Energy during the second quarter valued at about $30,302,000. Legal & General Group Plc increased its stake in shares of DTE Energy by 0.7% in the first quarter. Legal & General Group Plc now owns 923,490 shares of the company’s stock valued at $83,723,000 after buying an additional 6,794 shares during the period. Capstone Asset Management Co. increased its stake in shares of DTE Energy by 1.7% in the first quarter. Capstone Asset Management Co. now owns 23,014 shares of the company’s stock valued at $2,086,000 after buying an additional 390 shares during the period. Geode Capital Management LLC increased its stake in shares of DTE Energy by 2.0% in the first quarter. Geode Capital Management LLC now owns 1,472,427 shares of the company’s stock valued at $133,224,000 after buying an additional 28,200 shares during the period. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in shares of DTE Energy during the second quarter valued at about $12,033,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.
DTE Energy Company Profile
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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