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 report published on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently weighed in on DTE. BMO Capital Markets reduced their price target on shares of DTE Energy from $143.00 to $132.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 29th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. Finally, Truist Financial decreased their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.38.

DTE Energy Stock Performance

DTE Energy stock opened at $124.39 on Friday. The company has a market cap of $25.88 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.36. DTE Energy has a 12 month low of $119.68 and a 12 month high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The stock’s 50-day moving average is $134.58 and its 200-day moving average is $142.49.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the previous year, the business earned $1.36 EPS. Equities analysts anticipate that DTE Energy will post 7.71 earnings per share for the current year.

Insiders Place Their Bets

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the sale, the insider owned 73,122 shares of the company’s stock, valued at $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of DTE Energy

A number of hedge funds have recently made changes to their positions in DTE. GoalVest Advisory LLC boosted its stake in shares of DTE Energy by 2.9% in the third quarter. GoalVest Advisory LLC now owns 8,256 shares of the utilities provider’s stock valued at $1,006,000 after purchasing an additional 234 shares during the period. QRG Capital Management Inc. grew its holdings in DTE Energy by 5.7% during the 2nd quarter. QRG Capital Management Inc. now owns 28,810 shares of the utilities provider’s stock valued at $4,390,000 after purchasing an additional 1,545 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in DTE Energy by 5.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,272 shares of the utilities provider’s stock worth $651,000 after buying an additional 235 shares during the period. Anchor Investment Management LLC increased its stake in DTE Energy by 68.0% during the 2nd quarter. Anchor Investment Management LLC now owns 284 shares of the utilities provider’s stock worth $43,000 after buying an additional 115 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in DTE Energy by 5.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,355 shares of the utilities provider’s stock worth $3,711,000 after buying an additional 1,319 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

More DTE Energy News

Here are the key news stories impacting DTE Energy this week:

• Positive Sentiment: Michigan regulators approved 20-year power-supply contracts between DTE and Google for a large data center in Wayne County. The agreement could provide DTE with a sizable, long-duration commercial customer and greater visibility into future electricity demand. State regulators approve 20-year DTE contracts for Google data center in Wayne County
• Positive Sentiment: DTE completed construction of the 100-megawatt Cold Creek Solar Park near Coldwater, Michigan. The project was funded through Ford Motor Company’s participation in DTE’s MIGreenPower program, supporting Ford’s renewable-energy goals while expanding DTE’s renewable-generation portfolio and customer relationships. DTE Energy completes construction on Cold Creek Solar Park
• Neutral Sentiment: DTE launched its annual “Month of Warmth” customer-assistance campaign to help households apply for state energy-assistance funding and manage winter bills. The initiative may support customer relations but is unlikely to materially affect near-term earnings. New energy assistance funding opens October 1
• Negative Sentiment: Ladenburg Thalmann lowered its DTE price target to $135.50 from $153 while retaining a Buy rating. Although the recommendation remains positive, the sizable target reduction signals more cautious expectations and limits near-term upside. Ladenburg Thalmann adjusts price target on DTE Energy
• Negative Sentiment: BMO Capital Markets also cut its price target, and DTE shares subsequently reached a new 52-week low after an analyst downgrade. The stock remains below its 50-day and 200-day moving averages, reinforcing the current technical weakness. DTE Energy stock price target cut by BMO Capital Markets

About DTE Energy

DTE Energy Company is a diversified energy company headquartered in Detroit, Michigan. Through its regulated utility operations, the company generates, transmits and distributes electricity and purchases, stores, transports and distributes natural gas. Its utility services primarily support residential, commercial and industrial customers across southeastern Michigan.

DTE Energy also operates businesses involved in energy-related products and services, including renewable energy, energy management, power and industrial projects, and other nonutility activities.