DTE Energy (NYSE:DTE) Stock Rating Upgraded by Wall Street Zen

DTE Energy (NYSE:DTE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley dropped their price objective on DTE Energy from $148.00 to $141.00 and set an “overweight” rating for the company in a report on Friday, September 18th. JPMorgan Chase & Co. upped their price objective on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Truist Financial decreased their target price on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Mizuho lowered their target price on shares of DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. Finally, BMO Capital Markets boosted their target price on shares of DTE Energy from $132.00 to $134.00 and gave the company a “market perform” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.54.

DTE Energy Stock Up 0.8%

Shares of NYSE DTE opened at $127.97 on Friday. DTE Energy has a 1 year low of $119.68 and a 1 year high of $155.74. The firm has a 50-day simple moving average of $132.57 and a two-hundred day simple moving average of $141.67. The company has a market cap of $26.63 billion, a P/E ratio of 20.25, a PEG ratio of 2.50 and a beta of 0.36. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Research analysts anticipate that DTE Energy will post 7.71 earnings per share for the current year.

Insider Buying and Selling

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the sale, the insider directly owned 73,122 shares of the company’s stock, valued at approximately $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Riversedge Advisors LLC acquired a new stake in shares of DTE Energy in the third quarter worth approximately $303,000. Wedmont Private Capital raised its stake in DTE Energy by 56.5% in the 3rd quarter. Wedmont Private Capital now owns 2,224 shares of the utilities provider’s stock valued at $283,000 after purchasing an additional 803 shares during the last quarter. Farther Finance Advisors LLC raised its stake in DTE Energy by 7.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,817 shares of the utilities provider’s stock valued at $1,561,000 after purchasing an additional 937 shares during the last quarter. CoreCap Advisors LLC raised its stake in DTE Energy by 1.5% in the 3rd quarter. CoreCap Advisors LLC now owns 32,792 shares of the utilities provider’s stock valued at $3,994,000 after purchasing an additional 481 shares during the last quarter. Finally, Apella Capital LLC lifted its holdings in DTE Energy by 10.3% in the 3rd quarter. Apella Capital LLC now owns 5,707 shares of the utilities provider’s stock valued at $726,000 after purchasing an additional 534 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Company Profile

DTE Energy Company is a diversified energy company headquartered in Detroit, Michigan. Through its regulated utility operations, the company generates, transmits and distributes electricity and purchases, stores, transports and distributes natural gas. Its utility services primarily support residential, commercial and industrial customers across southeastern Michigan.

DTE Energy also operates businesses involved in energy-related products and services, including renewable energy, energy management, power and industrial projects, and other nonutility activities.