DTE Energy (NYSE:DTE) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of DTE Energy (NYSE:DTE) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other research analysts also recently weighed in on the stock. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research report on Thursday, July 9th. Weiss Ratings raised DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price objective on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Barclays reduced their price objective on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Finally, Mizuho lowered their target price on DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $158.62.

DTE Energy Trading Up 0.9%

NYSE DTE opened at $140.84 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The stock’s 50 day moving average is $146.83 and its 200 day moving average is $145.14. The firm has a market capitalization of $29.31 billion, a PE ratio of 22.29, a P/E/G ratio of 3.08 and a beta of 0.38. DTE Energy has a twelve month low of $126.23 and a twelve month high of $155.74.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Research analysts forecast that DTE Energy will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a $1.165 dividend. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a yield of 3.3%. DTE Energy’s dividend payout ratio is presently 73.73%.

Institutional Investors Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Empowered Funds LLC boosted its holdings in DTE Energy by 200.7% in the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock worth $1,370,000 after buying an additional 6,614 shares during the period. Woodline Partners LP raised its holdings in DTE Energy by 40.8% during the first quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after acquiring an additional 5,072 shares during the period. Intech Investment Management LLC raised its holdings in DTE Energy by 6.5% during the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock valued at $1,754,000 after acquiring an additional 773 shares during the period. Sivia Capital Partners LLC bought a new position in shares of DTE Energy in the second quarter worth about $203,000. Finally, Jump Financial LLC boosted its stake in shares of DTE Energy by 154.5% in the second quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider’s stock worth $1,679,000 after acquiring an additional 7,696 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.