According to Zacks, “DTE Energy’s focus on improving its cost structure and making capital investments in renewable generation, utility infrastructure, environmental compliance assets and reliability of its electric utility systems is appreciable. It has plans for billions of dollars worth of capital investment through 2020 to drive growth. Improving economic fundamentals in Michigan are an added stimulus for the company. However, the current macro backdrop, including low natural gas prices and a slowly evolving U.S. economy, may pose challenges for GS&P and P&I to achieve earnings targets. Again, increasingly stringent government regulations for curbing emissions, dependence on electric and gas rates fixed by three MPSC and the FERC and operational risks are major causes of concern.”
Other equities research analysts have also issued reports about the stock. KeyCorp set a $105.00 target price on shares of DTE Energy and gave the company a buy rating in a research note on Monday, September 12th. Barclays PLC restated a buy rating and issued a $108.00 price objective on shares of DTE Energy in a research note on Thursday, July 28th. Finally, BMO Capital Markets restated a hold rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $103.20.
Shares of DTE Energy (NYSE:DTE) opened at 93.67 on Tuesday. DTE Energy has a 52 week low of $77.35 and a 52 week high of $100.45. The firm’s 50-day moving average price is $94.14 and its 200 day moving average price is $92.98. The company has a market cap of $16.81 billion, a price-to-earnings ratio of 22.62 and a beta of 0.25.
DTE Energy (NYSE:DTE) last announced its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The business earned $2.26 billion during the quarter, compared to analyst estimates of $2.36 billion. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. On average, equities research analysts forecast that DTE Energy will post $5.15 EPS for the current year.
In other DTE Energy news, Chairman Gerard M. Anderson sold 17,500 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $97.96, for a total value of $1,714,300.00. Following the completion of the sale, the chairman now owns 77,500 shares in the company, valued at approximately $7,591,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of DTE Energy during the second quarter worth about $718,000. Kentucky Retirement Systems acquired a new stake in shares of DTE Energy during the second quarter worth about $1,512,000. Mason Street Advisors LLC acquired a new stake in shares of DTE Energy during the second quarter worth about $2,396,000. Royal Bank of Canada raised its stake in shares of DTE Energy by 25.9% in the second quarter. Royal Bank of Canada now owns 1,504,616 shares of the company’s stock worth $149,138,000 after buying an additional 309,115 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of DTE Energy by 2.6% in the second quarter. IFP Advisors Inc now owns 15,628 shares of the company’s stock worth $1,549,000 after buying an additional 390 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.
DTE Energy Company Profile
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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