DTE Energy (NYSE:DTE) Upgraded to Buy at UBS Group

UBS Group upgraded shares of DTE Energy (NYSE:DTE) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have $143.00 price target on the utilities provider’s stock, up from their prior price target of $129.00.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price target on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Mizuho lifted their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. KeyCorp boosted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley cut their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.29.

DTE Energy Price Performance

Shares of NYSE DTE opened at $122.95 on Tuesday. The firm has a market capitalization of $25.46 billion, a P/E ratio of 16.66, a PEG ratio of 2.28 and a beta of 0.68. DTE Energy has a one year low of $102.17 and a one year high of $131.66. The company’s fifty day moving average is $124.63 and its two-hundred day moving average is $120.15. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.55%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio is currently 55.28%.

Hedge Funds Weigh In On DTE Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Advisors LLC purchased a new position in DTE Energy in the 1st quarter worth approximately $708,000. Cetera Investment Advisers raised its position in shares of DTE Energy by 242.0% in the 1st quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock valued at $3,286,000 after purchasing an additional 20,737 shares in the last quarter. Bank of Montreal Can raised its position in shares of DTE Energy by 19.0% in the 2nd quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after purchasing an additional 42,960 shares in the last quarter. Hancock Whitney Corp raised its position in shares of DTE Energy by 80.0% in the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after purchasing an additional 5,725 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of DTE Energy in the 3rd quarter valued at approximately $1,876,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

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.