Mizuho assumed coverage on shares of DTE Energy (NYSE:DTE) in a research note published on Monday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $131.00 target price on the utilities provider’s stock.
Several other analysts have also recently issued reports on DTE. Credit Suisse Group set a $117.00 target price on DTE Energy and gave the stock a sell rating in a research note on Monday, April 22nd. Zacks Investment Research raised DTE Energy from a hold rating to a buy rating and set a $137.00 target price on the stock in a research note on Tuesday, April 23rd. KeyCorp initiated coverage on DTE Energy in a research note on Tuesday, June 4th. They issued an overweight rating and a $136.00 target price on the stock. Bank of America cut their target price on DTE Energy from $124.00 to $122.00 and set an underperform rating on the stock in a research note on Monday, June 3rd. Finally, ValuEngine cut DTE Energy from a buy rating to a hold rating in a research note on Saturday, August 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $126.36.
Shares of NYSE:DTE opened at $128.66 on Monday. The stock’s 50-day moving average price is $129.13 and its 200-day moving average price is $125.64. DTE Energy has a 12-month low of $106.41 and a 12-month high of $132.09. The stock has a market capitalization of $23.48 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 3.44 and a beta of 0.24. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.29.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.10). DTE Energy had a net margin of 8.09% and a return on equity of 10.33%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the business posted $1.36 earnings per share. As a group, research analysts predict that DTE Energy will post 6.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $0.945 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.78 annualized dividend and a dividend yield of 2.94%. DTE Energy’s payout ratio is presently 60.00%.
In other DTE Energy news, Chairman Gerard M. Anderson sold 11,500 shares of DTE Energy stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total transaction of $1,472,230.00. Following the sale, the chairman now directly owns 80,406 shares of the company’s stock, valued at approximately $10,293,576.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Lisa A. Muschong sold 237 shares of DTE Energy stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $128.86, for a total value of $30,539.82. Following the sale, the vice president now directly owns 2,100 shares in the company, valued at $270,606. The disclosure for this sale can be found here. Insiders sold 21,737 shares of company stock worth $2,781,170 over the last three months. 0.55% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of DTE. BlackRock Inc. boosted its position in DTE Energy by 7.2% during the 2nd quarter. BlackRock Inc. now owns 15,596,423 shares of the utilities provider’s stock valued at $1,994,469,000 after acquiring an additional 1,047,518 shares in the last quarter. Nuveen Asset Management LLC boosted its position in DTE Energy by 572.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 929,167 shares of the utilities provider’s stock valued at $118,822,000 after acquiring an additional 791,069 shares in the last quarter. LSV Asset Management boosted its position in DTE Energy by 1,890.9% during the 2nd quarter. LSV Asset Management now owns 318,540 shares of the utilities provider’s stock valued at $40,734,000 after acquiring an additional 302,540 shares in the last quarter. Vanguard Group Inc. boosted its position in DTE Energy by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 21,203,264 shares of the utilities provider’s stock valued at $2,711,474,000 after acquiring an additional 272,213 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in DTE Energy by 23.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,334,039 shares of the utilities provider’s stock valued at $166,410,000 after acquiring an additional 252,418 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.
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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