DTE Energy Co. (NYSE:DTE) – KeyCorp raised their FY2016 earnings per share (EPS) estimates for DTE Energy in a research note issued to investors on Tuesday. KeyCorp analyst P. Ridzon now anticipates that the brokerage will post earnings per share of $5.25 for the year, up from their prior forecast of $5.05. KeyCorp has a “Buy” rating and a $105.00 price objective on the stock.
DTE has been the topic of several other reports. Zacks Investment Research cut shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. BMO Capital Markets reaffirmed a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. Macquarie boosted their target price on shares of DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Barclays PLC reiterated a “buy” rating and set a $108.00 target price on shares of DTE Energy in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $103.20.
DTE Energy (NYSE:DTE) traded down 1.28% during mid-day trading on Thursday, hitting $93.67. 1,143,383 shares of the stock traded hands. The stock has a 50-day moving average of $94.27 and a 200 day moving average of $92.94. DTE Energy has a 1-year low of $77.35 and a 1-year high of $100.45. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 22.62 and a beta of 0.26.
DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $2.36 billion. During the same quarter last year, the business earned $0.76 EPS. The business’s revenue was down .3% on a year-over-year basis.
In other news, Chairman Gerard M. Anderson sold 17,500 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the completion of the transaction, the chairman now owns 77,500 shares in the company, valued at $7,591,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.93% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. raised its position in 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. Vanguard Group Inc. raised its position in DTE Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,705,663 shares of the company’s stock valued at $1,655,866,000 after buying an additional 496,138 shares in the last quarter. State Street Corp raised its position in 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 Fund Advisors raised its position in DTE Energy by 6.6% in the second quarter. BlackRock Fund Advisors now owns 6,092,557 shares of the company’s stock valued at $603,894,000 after buying an additional 378,703 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in 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. Institutional investors and hedge funds own 65.25% of the company’s stock.
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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