DTE Energy (NYSE:DTE) Raised to “Hold” at Wall Street Zen

DTE Energy (NYSE:DTE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts also recently commented on DTE. Wells Fargo & Company restated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. Bank of America reissued a “buy” rating on shares of DTE Energy in a research report on Wednesday, April 22nd. Truist Financial dropped their price objective on shares of DTE Energy from $165.00 to $158.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average price target of $158.46.

DTE Energy Stock Up 0.0%

DTE Energy stock opened at $141.94 on Friday. DTE Energy has a fifty-two week low of $126.23 and a fifty-two week high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The firm has a market capitalization of $29.54 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.10 and a beta of 0.38. The company’s 50 day simple moving average is $147.60 and its 200 day simple moving average is $144.88.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the firm posted $1.36 earnings per share. As a group, sell-side analysts anticipate that DTE Energy will post 7.71 EPS for the current year.

Insider Buying and Selling

In other news, VP Lisa A. Muschong sold 1,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $143.72, for a total transaction of $143,720.00. Following the completion of the transaction, the vice president directly owned 6,233 shares in the company, valued at $895,806.76. This represents a 13.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DTE. Oregon Public Employees Retirement Fund grew its stake in shares of DTE Energy by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock valued at $3,481,000 after buying an additional 71 shares in the last quarter. Whittier Trust Co. raised its stake in DTE Energy by 3.5% in the first 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 during the period. Segment Wealth Management LLC lifted its position in shares of DTE Energy by 4.6% in the fourth quarter. Segment Wealth Management LLC now owns 1,744 shares of the utilities provider’s stock valued at $225,000 after buying an additional 76 shares during the last quarter. Prosperity Consulting Group LLC boosted its stake 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 worth $927,000 after acquiring an additional 76 shares during the period. Finally, HM Payson & Co. raised its stake in DTE Energy by 23.6% in the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 80 shares during the period. 76.06% of the stock is currently owned by institutional investors.

About DTE Energy

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.