DTE Energy (NYSE:DTE) Given Average Rating of “Moderate Buy” by Brokerages

Shares of DTE Energy (NYSE:DTE) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $128.17.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Bank of America raised their price objective on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their target price on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Barclays increased their price target on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Scotiabank boosted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th.

Institutional Investors Weigh In On DTE Energy

Institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after purchasing an additional 261,623 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in DTE Energy by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after buying an additional 86,205 shares during the period. Clearbridge Investments LLC raised its stake in shares of DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after buying an additional 1,756,459 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of DTE Energy by 6,964.9% in 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 buying an additional 2,060,762 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of DTE Energy by 3.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after acquiring an additional 59,811 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE stock opened at $127.38 on Monday. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $127.89. The stock’s 50-day moving average is $122.86 and its two-hundred day moving average is $115.53. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The firm has a market cap of $26.36 billion, a P/E ratio of 20.85, a PEG ratio of 2.32 and a beta of 0.67.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the firm earned $0.99 earnings per share. Analysts predict that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Company Profile

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.