DTE Energy Co. (NYSE:DTE) shares saw unusually-strong trading volume on Tuesday after Macquarie raised their price target on the stock from $105.00 to $107.00. Macquarie currently has an outperform rating on the stock. Approximately 1,812,464 shares changed hands during trading, an increase of 72% from the previous session’s volume of 1,053,451 shares.The stock last traded at $95.07 and had previously closed at $96.63.
The analysts wrote, “We see these assets as attractive strategically given their location, contracts, diversified list of customers, potential for expansion and interconnection with DTE’s existing systems,” analyst Andrew Weisel wrote in a note.”We estimate these deals will add US$0.04/sh (+0.8 percent) in ’17 and US$0.15/sh (+2.3 percent) by ’20, ahead of DTE guidance of US$0.10. We assume a 50/50 debt/equity mix, 12 percent IRR and 10 percent annual growth,”
A number of other research analysts have also commented on DTE. Zacks Investment Research lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. BMO Capital Markets reaffirmed a “hold” rating on shares of DTE Energy in a research report on Wednesday, June 22nd. KeyCorp reaffirmed an “outperform” rating and set a $102.50 price objective (up previously from $97.00) on shares of DTE Energy in a research report on Saturday, July 2nd. Finally, Barclays PLC reaffirmed a “buy” rating and set a $108.00 price objective on shares of DTE Energy in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $103.20.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.96, for a total value of $1,714,300.00. Following the completion of the transaction, the chairman now owns 77,500 shares of the company’s stock, valued at $7,591,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.93% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of DTE. Cohen & Steers Inc. boosted its stake in shares of DTE Energy by 3,866.0% in the second quarter. Cohen & Steers Inc. now owns 19,761,823 shares of the company’s stock valued at $610,245,000 after buying an additional 19,263,546 shares in the last quarter. State Street Corp boosted its stake in shares of DTE Energy by 7.5% in the first quarter. State Street Corp now owns 9,440,740 shares of the company’s stock valued at $855,889,000 after buying an additional 661,094 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of DTE Energy by 11.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,243,118 shares of the company’s stock valued at $475,341,000 after buying an additional 552,321 shares in the last quarter. BlackRock Advisors LLC boosted its stake in shares of DTE Energy by 133.0% in the second quarter. BlackRock Advisors LLC now owns 963,271 shares of the company’s stock valued at $95,479,000 after buying an additional 549,858 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of DTE Energy by 201.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 815,827 shares of the company’s stock valued at $80,865,000 after buying an additional 545,100 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.
The stock has a market cap of $17.06 billion, a PE ratio of 22.96 and a beta of 0.26. The firm has a 50 day moving average of $94.28 and a 200 day moving average of $92.93.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The company earned $2.26 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $0.76 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts predict that DTE Energy Co. will post $5.07 EPS for the current fiscal year.
About DTE Energy
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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