DTE Energy (NYSE:DTE) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of DTE Energy (NYSE:DTE) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Several other research firms also recently issued reports on DTE. Mizuho dropped their price target on shares of DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. JPMorgan Chase & Co. boosted their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. TD Cowen initiated coverage on DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price objective for the company. Truist Financial lowered 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. Finally, Weiss Ratings downgraded DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $154.54.

DTE Energy Stock Performance

DTE Energy stock opened at $125.08 on Friday. The business has a 50 day moving average of $134.14 and a 200-day moving average of $142.27. DTE Energy has a 1 year low of $119.68 and a 1 year 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 company has a market capitalization of $26.03 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.45 and a beta of 0.36.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the business earned $1.36 EPS. On average, equities research analysts predict that DTE Energy will post 7.71 earnings per share for the current year.

Insider Activity

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’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 value of $678,550.00. Following the transaction, the insider owned 73,122 shares in the company, valued at approximately $9,923,386.62. The trade was a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in DTE Energy during the second quarter valued at $3,915,284,000. Capital Research Global Investors raised its position in shares of DTE Energy by 3.1% in the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock worth $1,605,539,000 after acquiring an additional 379,443 shares in the last quarter. Jupiter Topco LLC bought a new position in shares of DTE Energy in the 2nd quarter worth about $477,264,000. Janus Henderson Group PLC lifted its stake in shares of DTE Energy by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock valued at $451,022,000 after purchasing an additional 40,346 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of DTE Energy in the 2nd quarter valued at about $417,001,000. Institutional investors own 76.06% of the company’s stock.

Key DTE Energy News

Here are the key news stories impacting DTE Energy this week:

• Positive Sentiment: BMO raises price target: BMO Capital Markets increased its price target for DTE from $132 to $134, implying potential upside from the recent trading level. The firm retained a “market perform” rating, suggesting moderate rather than strongly bullish conviction. DTE Energy Price Target Raised to $134.00
• Positive Sentiment: 100-megawatt solar project completed: DTE completed construction of the Cold Creek Solar Park in Michigan. The facility is tied to Ford’s clean-energy objectives and strengthens DTE’s renewable-generation portfolio, potentially supporting its long-term growth and decarbonization narrative. DTE Energy completes construction at 100MW solar PV plant DTE solar park tied to Ford clean-energy goals
• Neutral Sentiment: Valuation viewed favorably: A Seeking Alpha analysis described DTE as potentially undervalued for investors seeking utility exposure. This may attract income-oriented or defensive investors, although it represents an external opinion rather than a new company announcement. DTE Energy viewed as undervalued
• Negative Sentiment: Temporary gas-work odor notice: DTE warned residents near Traverse City Central High School that a rotten-egg odor may occur during gas work. The notice appears precautionary and temporary, but any gas-related incident can create limited reputational or operational concerns. Rotten egg odor expected during DTE gas work

About DTE Energy

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.