DTE Energy (NYSE:DTE) Upgraded at Wall Street Zen

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

Several other research analysts have also issued reports on the company. Truist Financial decreased their target price on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. TD Cowen began coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price for the company. JPMorgan Chase & Co. lifted their price target on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Mizuho reduced their price target on DTE Energy from $152.00 to $136.00 and set an “outperform” rating on the stock in a research note on Monday, September 28th. Finally, Morgan Stanley reduced their price target on DTE Energy from $148.00 to $141.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. One investment 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.54.

DTE Energy Trading Up 0.3%

Shares of DTE opened at $128.43 on Friday. DTE Energy has a 1-year low of $119.68 and a 1-year high of $155.74. 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 firm’s 50-day moving average price is $132.31 and its 200-day moving average price is $141.57. The firm has a market capitalization of $26.72 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 2.52 and a beta of 0.36.

DTE Energy (NYSE:DTE) last released its quarterly 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. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. Sell-side analysts anticipate that DTE Energy will post 7.71 EPS for the current year.

Insider Activity at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction 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 at the SEC website. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its holdings in shares of DTE Energy by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock worth $3,481,000 after buying an additional 71 shares during the last quarter. Whittier Trust Co. raised its position in shares of DTE Energy by 3.5% during the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock valued at $328,000 after buying an additional 75 shares in the last quarter. Prosperity Consulting Group LLC raised its position in shares of DTE Energy by 1.2% during the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock valued at $927,000 after buying an additional 76 shares in the last quarter. MeadowBrook Investment Advisors LLC lifted its holdings in shares of DTE Energy by 3.6% in the 1st quarter. MeadowBrook Investment Advisors LLC now owns 2,504 shares of the utilities provider’s stock valued at $366,000 after acquiring an additional 88 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of DTE Energy by 5.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,756 shares of the utilities provider’s stock valued at $268,000 after acquiring an additional 94 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Company Profile

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.