DTE Energy Co. (DTE) Raised to “Buy” at Bank of America Corp.
DTE Energy Co. (NYSE:DTE) was upgraded by investment analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued on Tuesday.
A number of other equities research analysts also recently weighed in on the stock. Jefferies Group began coverage on shares of DTE Energy in a research note on Monday, November 14th. They set a “buy” rating and a $102.00 price target 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 target on the stock in a research note on Wednesday, September 28th. Macquarie lifted their price target on shares of DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 27th. 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. Finally, Barclays PLC reiterated a “buy” rating and set a $108.00 price target on shares of DTE Energy in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $103.00.
DTE Energy (NYSE:DTE) opened at 92.28 on Tuesday. DTE Energy has a 12 month low of $77.35 and a 12 month high of $100.45. The company has a 50-day moving average of $92.80 and a 200-day moving average of $94.01. The company has a market cap of $16.56 billion, a price-to-earnings ratio of 20.31 and a beta of 0.19.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $1.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.54. DTE Energy had a net margin of 7.98% and a return on equity of 11.04%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. Analysts predict that DTE Energy will post $5.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from DTE Energy’s previous quarterly dividend of $0.77. DTE Energy’s payout ratio is currently 67.84%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc boosted its position in DTE Energy by 1,352.3% in the second quarter. NEXT Financial Group Inc now owns 1,278 shares of the company’s stock worth $126,000 after buying an additional 1,190 shares in the last quarter. Vantage Investment Advisors LLC boosted its position in DTE Energy by 0.7% in the third quarter. Vantage Investment Advisors LLC now owns 1,293 shares of the company’s stock worth $121,000 after buying an additional 9 shares in the last quarter. TLP Group LLC acquired a new position in DTE Energy during the third quarter worth about $126,000. FineMark National Bank & Trust boosted its position in DTE Energy by 7.8% in the third quarter. FineMark National Bank & Trust now owns 1,386 shares of the company’s stock worth $130,000 after buying an additional 100 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its position in DTE Energy by 2.6% in the second quarter. TCI Wealth Advisors Inc. now owns 1,486 shares of the company’s stock worth $147,000 after buying an additional 37 shares in the last quarter. 66.02% of the stock is owned by institutional investors and hedge funds.
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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