DTE Energy Co (NYSE:DTE) Given Average Recommendation of “Buy” by Brokerages

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DTE Energy Co (NYSE:DTE) has received an average rating of “Buy” from the fifteen analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $125.85.

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their target price on DTE Energy from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Seaport Global Securities assumed coverage on DTE Energy in a research report on Wednesday, May 20th. They set a “buy” rating and a $121.00 target price for the company. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research report on Tuesday, June 9th. BMO Capital Markets assumed coverage on DTE Energy in a research report on Thursday, July 9th. They set an “outperform” rating and a $116.00 target price for the company. Finally, Bank of America decreased their target price on DTE Energy from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, July 13th.

Shares of NYSE DTE opened at $118.56 on Wednesday. The stock has a market cap of $22.84 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 3.13 and a beta of 0.59. The business has a 50 day simple moving average of $117.36 and a 200 day simple moving average of $107.45. DTE Energy has a 52 week low of $71.21 and a 52 week high of $135.67. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.65 and a current ratio of 0.83.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.22. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.90 billion. DTE Energy had a return on equity of 10.50% and a net margin of 10.13%. During the same quarter in the previous year, the business posted $0.99 EPS. On average, analysts predict that DTE Energy will post 6.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a $1.013 dividend. The ex-dividend date is Friday, September 18th. This represents a $4.05 annualized dividend and a dividend yield of 3.42%. DTE Energy’s dividend payout ratio is 64.29%.

Several institutional investors and hedge funds have recently bought and sold shares of DTE. FMR LLC boosted its position in shares of DTE Energy by 6.4% in the first quarter. FMR LLC now owns 175,821 shares of the utilities provider’s stock valued at $21,931,000 after acquiring an additional 10,517 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of DTE Energy by 8.1% in the first quarter. Public Employees Retirement Association of Colorado now owns 26,336 shares of the utilities provider’s stock valued at $2,501,000 after purchasing an additional 1,964 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of DTE Energy by 15.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,572 shares of the utilities provider’s stock valued at $4,328,000 after purchasing an additional 5,927 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of DTE Energy by 90.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 884 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 420 shares in the last quarter. Finally, AE Wealth Management LLC raised its stake in shares of DTE Energy by 64.0% in the first quarter. AE Wealth Management LLC now owns 12,077 shares of the utilities provider’s stock valued at $1,147,000 after purchasing an additional 4,714 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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Analyst Recommendations for DTE Energy (NYSE:DTE)

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