ValuEngine Upgrades DTE Energy (DTE) to Hold

DTE Energy (NYSE:DTE) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Several other analysts also recently weighed in on DTE. Zacks Investment Research upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. KeyCorp restated a “buy” rating and set a $107.00 price objective on shares of DTE Energy in a research report on Thursday, March 15th. Citigroup assumed coverage on shares of DTE Energy in a research report on Friday, April 13th. They set a “neutral” rating and a $103.00 price objective for the company. Finally, Wells Fargo & Co downgraded shares of DTE Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $109.27 to $103.00 in a research report on Monday, June 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $109.30.

Shares of NYSE:DTE opened at $104.18 on Tuesday. The company has a market cap of $18.65 billion, a PE ratio of 18.64, a P/E/G ratio of 3.34 and a beta of 0.16. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 1.18. DTE Energy has a twelve month low of $94.25 and a twelve month high of $116.74.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, April 25th. The utilities provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.26 billion. DTE Energy had a net margin of 8.34% and a return on equity of 10.27%. During the same quarter in the previous year, the firm earned $1.79 EPS. equities research analysts forecast that DTE Energy will post 5.77 EPS for the current year.

In related news, Chairman Gerard M. Anderson sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $102.18, for a total value of $1,532,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter B. Oleksiak sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $99.89, for a total transaction of $99,890.00. Following the completion of the sale, the insider now owns 29,555 shares of the company’s stock, valued at approximately $2,952,248.95. The disclosure for this sale can be found here. 0.59% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Global X Management Co. LLC raised its position in DTE Energy by 6.8% in the 1st quarter. Global X Management Co. LLC now owns 7,757 shares of the utilities provider’s stock valued at $810,000 after purchasing an additional 493 shares during the last quarter. LPL Financial LLC raised its position in DTE Energy by 1.1% in the 1st quarter. LPL Financial LLC now owns 44,443 shares of the utilities provider’s stock valued at $4,640,000 after purchasing an additional 499 shares during the last quarter. Riverhead Capital Management LLC raised its position in DTE Energy by 8.5% in the 1st quarter. Riverhead Capital Management LLC now owns 7,437 shares of the utilities provider’s stock valued at $776,000 after purchasing an additional 585 shares during the last quarter. Tyers Asset Management LLC raised its position in DTE Energy by 7.7% in the 1st quarter. Tyers Asset Management LLC now owns 8,176 shares of the utilities provider’s stock valued at $854,000 after purchasing an additional 588 shares during the last quarter. Finally, MML Investors Services LLC raised its position in DTE Energy by 7.5% in the 4th quarter. MML Investors Services LLC now owns 10,019 shares of the utilities provider’s stock valued at $1,097,000 after purchasing an additional 697 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for DTE Energy (NYSE:DTE)

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