DTE Energy Company (NYSE:DTE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of DTE Energy Company (NYSE:DTE) have earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $158.6154.

A number of analysts recently weighed in on DTE shares. Truist Financial cut their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. TD Cowen started coverage on shares of DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price on the stock. Mizuho reduced their price target on shares of DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Barclays lowered their price objective on shares of 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.

DTE Energy Trading Down 1.3%

NYSE DTE opened at $139.83 on Thursday. DTE Energy has a 12 month low of $126.23 and a 12 month high of $155.74. The stock has a 50-day simple moving average of $147.36 and a 200 day simple moving average of $145.04. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $29.10 billion, a PE ratio of 22.13, a P/E/G ratio of 3.10 and a beta of 0.38.

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 firm had revenue of $6.74 billion for 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 last year, the business earned $1.36 earnings per share. Research analysts forecast that DTE Energy will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

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

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $143.72, for a total transaction of $143,720.00. Following the sale, the vice president owned 6,233 shares of the company’s stock, valued at $895,806.76. This trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Laurel Wealth Advisors LLC acquired a new stake in DTE Energy during the 4th quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. increased its position in shares of DTE Energy by 754.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 181 shares in the last quarter. Torren Management LLC bought a new stake in shares of DTE Energy during the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in shares of DTE Energy during the fourth quarter worth $29,000. Finally, Key Financial Inc acquired a new stake in shares of DTE Energy during the first quarter worth $29,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Company Profile

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.