Bank of America Corp. upgraded shares of DTE Energy Co. (NYSE:DTE) from a neutral rating to a buy rating in a report released on Tuesday morning. Bank of America Corp. currently has $99.00 target price on the stock.
Several other analysts also recently weighed in on DTE. Zacks Investment Research downgraded shares of DTE Energy from a buy rating to a hold rating in a research report on Tuesday, September 27th. KeyCorp set a $105.00 price objective on shares of DTE Energy and gave the company a buy rating in a report on Monday, September 12th. Barclays PLC reaffirmed a buy rating and issued a $108.00 price objective on shares of DTE Energy in a report on Thursday, July 28th. Macquarie upped their price objective on shares of DTE Energy from $105.00 to $107.00 and gave the company an outperform rating in a report on Tuesday, September 27th. Finally, Jefferies Group initiated coverage on shares of DTE Energy in a report on Monday, November 14th. They issued a buy rating and a $102.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $102.57.
Shares of DTE Energy (NYSE:DTE) opened at 94.03 on Tuesday. The stock’s 50 day moving average is $92.95 and its 200 day moving average is $94.05. The company has a market capitalization of $16.87 billion, a P/E ratio of 20.69 and a beta of 0.19. DTE Energy has a 12 month low of $77.35 and a 12 month high of $100.45.
DTE Energy (NYSE:DTE) last released its earnings results on Wednesday, October 26th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.54. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.62 billion. DTE Energy had a net margin of 7.98% and a return on equity of 11.04%. DTE Energy’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 EPS. On average, equities analysts predict that DTE Energy will post $5.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be paid a $0.825 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $0.77. This represents a $3.30 annualized dividend and a dividend yield of 3.51%. DTE Energy’s payout ratio is currently 67.84%.
In related news, Chairman Gerard M. Anderson sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $93.74, for a total value of $1,406,100.00. Following the completion of the transaction, the chairman now directly owns 90,000 shares in the company, valued at approximately $8,436,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.93% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc boosted its position in DTE Energy by 1,352.3% in the second quarter. NEXT Financial Group Inc now owns 1,278 shares of the company’s stock worth $126,000 after buying an additional 1,190 shares in the last quarter. Vantage Investment Advisors LLC boosted its position in DTE Energy by 0.7% in the third quarter. Vantage Investment Advisors LLC now owns 1,293 shares of the company’s stock worth $121,000 after buying an additional 9 shares in the last quarter. TLP Group LLC bought a new position in DTE Energy during the third quarter worth $126,000. FineMark National Bank & Trust boosted its position in DTE Energy by 7.8% in the third quarter. FineMark National Bank & Trust now owns 1,386 shares of the company’s stock worth $130,000 after buying an additional 100 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its position in DTE Energy by 2.6% in the second quarter. TCI Wealth Advisors Inc. now owns 1,486 shares of the company’s stock worth $147,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 66.38% of the company’s stock.
DTE Energy Company Profile