DTE Energy (DTE) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of DTE Energy (NYSE:DTE) from a hold rating to a buy rating in a research note released on Monday morning. The firm currently has $119.00 price target on the utilities provider’s stock.

According to Zacks, “In last one year DTE Energy’s share price outperformed the broader industry’s rally. The company's focus on improving its cost structure and making capital investments in renewable generation, utility infrastructure and environmental compliance assets is impressive. Currently, DTE Energy plans to invest $6.5 billion over the next 10 years for maintaining and upgrading the reliability of its electric utility systems. Apart from its utility operation, it also continues to make progress on its non-utility business, which provides diversity to its earnings stream. That said, increasingly stringent government regulations for curbing emissions and operational risks remain major concerns.”

Several other research analysts also recently issued reports on DTE. Guggenheim reiterated a buy rating and set a $121.00 price target on shares of DTE Energy in a report on Wednesday, January 3rd. Credit Suisse Group lowered their price target on shares of DTE Energy from $113.00 to $112.00 and set a neutral rating for the company in a report on Thursday, October 26th. KeyCorp reiterated a buy rating and set a $118.50 price target on shares of DTE Energy in a report on Friday, December 15th. Finally, Bank of America assumed coverage on shares of DTE Energy in a report on Tuesday, October 24th. They set an underperform rating and a $112.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $114.72.

Shares of DTE Energy (DTE) traded down $0.71 during trading hours on Monday, hitting $103.93. 944,100 shares of the stock traded hands, compared to its average volume of 1,113,362. The firm has a market capitalization of $18,680.00, a P/E ratio of 19.00, a PEG ratio of 3.09 and a beta of 0.23. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 1.20. DTE Energy has a 52 week low of $96.56 and a 52 week high of $116.74.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.05). The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $2.80 billion. DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. sell-side analysts expect that DTE Energy will post 5.54 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Monday, December 18th will be issued a $0.8825 dividend. This represents a $3.53 dividend on an annualized basis and a yield of 3.40%. This is an increase from DTE Energy’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, December 15th. DTE Energy’s dividend payout ratio is presently 64.53%.

In related news, Chairman Gerard M. Anderson sold 12,389 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $112.93, for a total value of $1,399,089.77. Following the completion of the sale, the chairman now directly owns 83,000 shares in the company, valued at $9,373,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Pacad Investment Ltd. bought a new stake in DTE Energy during the second quarter valued at $106,000. Spectrum Management Group Inc. bought a new stake in DTE Energy during the third quarter valued at $111,000. Sun Life Financial INC boosted its position in DTE Energy by 13,030.0% during the second quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 1,303 shares during the last quarter. D.A. Davidson & CO. boosted its position in DTE Energy by 36.1% during the second quarter. D.A. Davidson & CO. now owns 1,497 shares of the utilities provider’s stock valued at $158,000 after acquiring an additional 397 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in DTE Energy during the second quarter valued at $161,000. 68.31% of the stock is currently owned by institutional investors and hedge funds.

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