DTE Energy (NYSE:DTE) Sees Large Volume Increase – Should You Buy?

Shares of DTE Energy (NYSE:DTE) saw strong trading volume on Wednesday . 918,574 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 1,070,715 shares.The stock last traded at $125.79 and had previously closed at $125.48.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research analyst reports. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Scotiabank boosted their price target on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective on the stock. Barclays lifted their target price on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Bank of America increased their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.42.

DTE Energy Trading Down 0.7 %

The company’s 50 day simple moving average is $124.22 and its two-hundred day simple moving average is $116.47. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $25.59 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the business earned $0.99 EPS. As a group, research analysts anticipate that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Institutional Trading of DTE Energy

Institutional investors have recently bought and sold shares of the stock. Grayhawk Investment Strategies Inc. acquired a new stake in shares of DTE Energy during the fourth quarter worth $1,305,000. Quarry LP acquired a new stake in DTE Energy during the 4th quarter worth about $63,000. Syon Capital LLC acquired a new stake in DTE Energy during the 4th quarter worth about $340,000. EP Wealth Advisors LLC purchased a new stake in DTE Energy during the 4th quarter valued at about $381,000. Finally, Scarborough Advisors LLC acquired a new position in shares of DTE Energy in the fourth quarter valued at about $94,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.