DTE Energy (NYSE:DTE) Cut to “Sector Weight” at KeyCorp

KeyCorp downgraded shares of DTE Energy (NYSE:DTE) from an overweight rating to a sector weight rating in a research note released on Wednesday morning, MarketBeat Ratings reports. KeyCorp also issued estimates for DTE Energy’s Q4 2024 earnings at $1.52 EPS, FY2026 earnings at $8.08 EPS and FY2028 earnings at $9.16 EPS.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets raised their target price on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Barclays raised their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Morgan Stanley decreased their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Bank of America boosted 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. Finally, Mizuho upped their price target on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.54.

DTE Energy Stock Performance

Shares of NYSE:DTE opened at $121.57 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $124.50 and a 200-day moving average price of $120.18. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66.

DTE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.59%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio is currently 59.08%.

Institutional Trading of DTE Energy

Institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after buying an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC raised its position in shares of DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after purchasing an additional 7,023,042 shares during the last quarter. Ameriprise Financial Inc. grew its position in DTE Energy by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after purchasing an additional 86,205 shares during the last quarter. Janus Henderson Group PLC increased its stake in DTE Energy by 2.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock valued at $349,309,000 after purchasing an additional 64,880 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of DTE Energy by 3.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock worth $185,066,000 after buying an additional 59,811 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

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.