DTE Energy (NYSE:DTE) Hits New 1-Year High Following Analyst Upgrade

DTE Energy (NYSE:DTE) shares hit a new 52-week high during mid-day trading on Wednesday after KeyCorp raised their price target on the stock from $136.00 to $138.00. KeyCorp currently has an overweight rating on the stock. DTE Energy traded as high as $129.63 and last traded at $129.58, with a volume of 361712 shares traded. The stock had previously closed at $128.23.

DTE has been the topic of several other reports. Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday. They issued a “hold” rating and a $137.00 price objective on the stock. Barclays lifted their price objective on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley raised their target price on shares of DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target for the company. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.54.

Institutional Trading of DTE Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. ESL Trust Services LLC purchased a new position in DTE Energy during the 1st quarter worth $27,000. Ridgewood Investments LLC acquired a new stake in DTE Energy during the 2nd quarter worth approximately $31,000. Denali Advisors LLC purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $34,000. Salomon & Ludwin LLC lifted its holdings in shares of 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 during the period. Finally, Fairscale Capital LLC purchased a new position in DTE Energy in the 2nd quarter valued at $54,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 1.4 %

The company has a market capitalization of $26.90 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.29 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm’s 50 day simple moving average is $125.52 and its 200-day simple moving average is $117.67.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the company posted $0.99 earnings per share. On average, sell-side analysts anticipate that DTE Energy will post 6.7 EPS 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.