DTE Energy Company (NYSE:DTE) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of DTE Energy Company (NYSE:DTE) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other equities research analysts also recently issued reports on the company. Jefferies Group LLC reaffirmed a buy rating and issued a $117.00 price target (up from $108.50) on shares of DTE Energy in a research report on Thursday, April 27th. Barclays PLC reaffirmed an overweight rating and issued a $115.00 price target (up from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. Zacks Investment Research downgraded DTE Energy from a buy rating to a hold rating in a research report on Wednesday, April 12th. Finally, Deutsche Bank AG raised their price target on DTE Energy from $100.00 to $103.00 and gave the company a hold rating in a research report on Tuesday, April 11th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $107.67.

DTE Energy (NYSE:DTE) opened at 106.08 on Wednesday. The company has a 50 day moving average price of $108.49 and a 200 day moving average price of $102.51. The firm has a market cap of $19.03 billion, a PE ratio of 18.67 and a beta of 0.21. DTE Energy has a 1-year low of $89.66 and a 1-year high of $111.35.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, April 26th. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.22. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $2.93 billion. DTE Energy had a return on equity of 10.74% and a net margin of 9.04%. The firm’s revenue was up 26.1% compared to the same quarter last year. During the same period last year, the business posted $1.52 earnings per share. On average, equities research analysts forecast that DTE Energy will post $5.33 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s payout ratio is presently 58.10%.

In related news, insider Trevor F. Lauer sold 3,800 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $104.21, for a total value of $395,998.00. Following the completion of the sale, the insider now owns 10,117 shares in the company, valued at $1,054,292.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Lisa A. Muschong sold 426 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $109.51, for a total transaction of $46,651.26. Following the completion of the sale, the vice president now owns 2,543 shares of the company’s stock, valued at approximately $278,483.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,064 shares of company stock valued at $3,309,851. 0.53% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co boosted its stake in DTE Energy by 0.5% in the second quarter. CENTRAL TRUST Co now owns 6,130 shares of the utilities provider’s stock valued at $649,000 after buying an additional 28 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in DTE Energy by 513.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 29,362 shares of the utilities provider’s stock valued at $3,106,000 after buying an additional 24,577 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in DTE Energy during the second quarter valued at $521,000. National Pension Service boosted its stake in DTE Energy by 13.9% in the second quarter. National Pension Service now owns 166,387 shares of the utilities provider’s stock valued at $17,624,000 after buying an additional 20,301 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in DTE Energy by 28.9% in the second quarter. State of Alaska Department of Revenue now owns 14,169 shares of the utilities provider’s stock valued at $1,498,000 after buying an additional 3,178 shares during the last quarter. Institutional investors and hedge funds own 67.92% of the company’s stock.

DTE Energy Company Profile

Analyst Recommendations for DTE Energy (NYSE:DTE)

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