DTE Energy (NYSE:DTE) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of DTE Energy (NYSE:DTE) from a hold rating to a sell rating in a report released on Saturday morning.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company raised their price target on DTE Energy from $125.00 to $133.00 and gave the company an overweight rating in a report on Friday, July 26th. KeyCorp lifted 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. Scotiabank decreased their target price on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating on the stock in a research report on Monday, April 22nd. Morgan Stanley dropped their price target on DTE Energy from $116.00 to $111.00 and set an overweight rating for the company in a research report on Monday, June 24th. Finally, BMO Capital Markets upped their price objective on DTE Energy from $120.00 to $123.00 and gave the company a market perform rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $119.30.

DTE Energy Trading Up 0.2 %

DTE stock opened at $119.07 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. DTE Energy has a 1-year low of $90.14 and a 1-year high of $126.76. The business has a 50 day simple moving average of $113.84 and a two-hundred day simple moving average of $110.90. The company has a market capitalization of $24.64 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 2.27 and a beta of 0.66.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The company 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 firm posted $0.99 EPS. Research analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $1.02 dividend. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.43%. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Activity

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the transaction, the insider now directly owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now owns 59,475 shares in the company, valued at $6,843,788.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. 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. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

A number of large investors have recently made changes to their positions in DTE. Janus Henderson Group PLC grew its stake in DTE Energy by 6,964.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after purchasing an additional 2,060,762 shares during the last quarter. Clearbridge Investments LLC raised its position in DTE Energy by 224.7% during the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after acquiring an additional 1,756,459 shares in the last quarter. Boston Partners boosted its position in DTE Energy by 66.8% in the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after purchasing an additional 1,018,212 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of DTE Energy during the 4th quarter worth approximately $74,478,000. Finally, Capital Research Global Investors raised its position in shares of DTE Energy by 1.9% in the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after acquiring an additional 399,646 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

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.