DTE Energy (NYSE:DTE) Sees Strong Trading Volume – Should You Buy?

DTE Energy (NYSE:DTE) saw unusually-strong trading volume on Wednesday . Approximately 918,574 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 1,070,715 shares.The stock last traded at $125.79 and had previously closed at $125.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DTE shares. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Barclays increased their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday. LADENBURG THALM/SH SH assumed coverage on shares of DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price for the company. Scotiabank upped their price target on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley upped their target price on DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.42.

DTE Energy Trading Down 0.2 %

The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The company has a 50 day moving average price of $124.14 and a 200 day moving average price of $116.41.

DTE Energy (NYSE:DTE) last announced its 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 return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, research analysts expect that DTE Energy will post 6.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. ESL Trust Services LLC purchased a new stake in shares of DTE Energy during the 1st quarter worth $27,000. Rise Advisors LLC increased its holdings in shares of DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 129 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in DTE Energy during the second quarter worth approximately $31,000. Denali Advisors LLC purchased a new position in DTE Energy in the first quarter valued at approximately $34,000. Finally, Salomon & Ludwin LLC raised its holdings in DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 195 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

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.