DTE Energy (NYSE:DTE) Reaches New 1-Year High Following Analyst Upgrade

Shares of DTE Energy (NYSE:DTE) hit a new 52-week high during mid-day trading on Wednesday after Barclays raised their price target on the stock from $123.00 to $128.00. Barclays currently has an overweight rating on the stock. DTE Energy traded as high as $120.87 and last traded at $120.15, with a volume of 107919 shares trading hands. The stock had previously closed at $120.63.

A number of other brokerages also recently weighed in on DTE. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. BMO Capital Markets raised their price target on shares of DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a report on Monday, July 15th. KeyCorp boosted their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley lowered their target price on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Finally, Wells Fargo & Company lifted their price target on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average target price of $119.30.

Insiders Place Their Bets

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the sale, the insider now directly owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the sale, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the sale, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,698 shares of company stock valued at $1,702,444. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

A number of institutional investors have recently bought and sold shares of DTE. ESL Trust Services LLC purchased a new stake in shares of DTE Energy in the 1st quarter valued at $27,000. MV Capital Management Inc. lifted its position in DTE Energy by 104.4% during the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 143 shares during the period. Rise Advisors LLC boosted its holdings in DTE Energy by 89.6% in the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 129 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in DTE Energy during the 2nd quarter worth about $31,000. Finally, Denali Advisors LLC purchased a new position in shares of DTE Energy during the 1st quarter valued at about $34,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Trading Down 0.4 %

The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm has a market cap of $24.86 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.19 and a beta of 0.66. The company has a fifty day moving average price of $113.18 and a 200-day moving average price of $110.49.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating 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 company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the business earned $0.99 earnings per share. As a group, research analysts expect that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

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.