DTE Energy Co. (DTE) Earns Buy Rating from Analysts at Jefferies Group
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of DTE Energy from a hold rating to a buy rating and set a $106.00 price objective on the stock in a research note on Wednesday, September 28th. KeyCorp set a $105.00 price target on shares of DTE Energy and gave the stock a buy rating in a research note on Monday, September 12th. Macquarie upped their price target on shares of DTE Energy from $105.00 to $107.00 and gave the company an outperform rating in a research report on Tuesday, September 27th. Finally, Barclays PLC restated a buy rating and set a $108.00 price objective on shares of DTE Energy in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. DTE Energy has a consensus rating of Buy and an average price target of $103.00.
DTE Energy (NYSE:DTE) opened at 91.96 on Monday. The firm’s 50-day moving average is $92.97 and its 200 day moving average is $93.96. DTE Energy has a 12-month low of $77.35 and a 12-month high of $100.45. The firm has a market cap of $16.50 billion, a PE ratio of 20.24 and a beta of 0.19.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.54. The business earned $2.93 billion during the quarter, compared to the consensus estimate of $2.62 billion. DTE Energy had a return on equity of 11.04% and a net margin of 7.98%. DTE Energy’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $1.40 earnings per share. Equities research analysts predict that DTE Energy will post $5.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be issued a dividend of $0.825 per share. This is an increase from DTE Energy’s previous quarterly dividend of $0.77. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.59%. DTE Energy’s dividend payout ratio (DPR) is presently 67.84%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cohen & Steers Inc. increased its position in DTE Energy by 3,866.0% in the second quarter. Cohen & Steers Inc. now owns 19,761,823 shares of the company’s stock worth $610,245,000 after buying an additional 19,263,546 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in DTE Energy during the third quarter worth about $61,922,000. Ameriprise Financial Inc. increased its position in DTE Energy by 33.0% in the third quarter. Ameriprise Financial Inc. now owns 2,480,460 shares of the company’s stock worth $232,365,000 after buying an additional 615,874 shares during the last quarter. BlackRock Advisors LLC increased its position in DTE Energy by 133.0% in the second quarter. BlackRock Advisors LLC now owns 963,271 shares of the company’s stock worth $95,479,000 after buying an additional 549,858 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in DTE Energy by 201.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 815,827 shares of the company’s stock worth $80,865,000 after buying an additional 545,100 shares during the last quarter. Institutional investors and hedge funds own 65.99% 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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