Wall Street Zen upgraded shares of DTE Energy (NYSE:DTE – Free Report) from a sell rating to a hold rating in a research report sent to investors on Sunday.
A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets lifted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a research report on Monday, August 25th. Scotiabank reissued a “sector perform” rating and issued a $147.00 price objective on shares of DTE Energy in a research report on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday, October 8th. UBS Group boosted their price objective on shares of DTE Energy from $148.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $147.80.
Check Out Our Latest Report on DTE Energy
DTE Energy Stock Performance
DTE Energy (NYSE:DTE – Get Free Report) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. As a group, research analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.
Insider Buying and Selling
In related news, VP Lisa A. Muschong sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the transaction, the vice president owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.
Hedge Funds Weigh In On DTE Energy
Several institutional investors and hedge funds have recently bought and sold shares of DTE. GAMMA Investing LLC increased its position in DTE Energy by 8.3% during the first quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider’s stock worth $1,184,000 after purchasing an additional 658 shares during the last quarter. State of Alaska Department of Revenue increased its position in DTE Energy by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 24,277 shares of the utilities provider’s stock worth $3,356,000 after purchasing an additional 660 shares during the last quarter. Blue Trust Inc. increased its position in DTE Energy by 11.4% during the first quarter. Blue Trust Inc. now owns 2,724 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 278 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in DTE Energy by 17.7% during the first quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider’s stock worth $293,000 after buying an additional 318 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in DTE Energy by 4.7% during the first quarter. Asset Management One Co. Ltd. now owns 111,022 shares of the utilities provider’s stock worth $15,351,000 after buying an additional 5,018 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.
About DTE Energy
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.
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