Barclays Downgrades DTE Energy (NYSE:DTE) to Equal Weight

DTE Energy (NYSE:DTE) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $135.00 target price on the utilities provider’s stock, down from their previous target price of $137.00. Barclays‘s target price points to a potential upside of 2.29% from the stock’s previous close.

Several other brokerages have also issued reports on DTE. Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. BMO Capital Markets raised their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. StockNews.com downgraded DTE Energy from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Finally, Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $135.67.

DTE Energy Price Performance

NYSE DTE opened at $131.98 on Thursday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The stock’s fifty day moving average price is $122.15 and its 200 day moving average price is $123.36. DTE Energy has a 1 year low of $103.06 and a 1 year high of $132.88. The company has a market cap of $27.35 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.40 and a beta of 0.68.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. As a group, equities research analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of DTE Energy by 2.3% during the third quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock valued at $461,000 after acquiring an additional 81 shares in the last quarter. SkyOak Wealth LLC grew its stake in DTE Energy by 4.1% in the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 85 shares during the period. Signaturefd LLC grew its stake in DTE Energy by 3.1% in the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 86 shares during the period. EverSource Wealth Advisors LLC grew its stake in DTE Energy by 8.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 90 shares during the period. Finally, Stratos Wealth Partners LTD. grew its stake in DTE Energy by 4.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 92 shares during the period. 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.