StockNews.com Downgrades DTE Energy (NYSE:DTE) to Sell

DTE Energy (NYSE:DTE) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

DTE has been the topic of a number of other research reports. BMO Capital Markets upped their target price on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley reduced their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank lifted their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group began coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Price Performance

DTE Energy stock opened at $123.69 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The business has a 50 day simple moving average of $121.31 and a 200-day simple moving average of $121.78. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The stock has a market capitalization of $25.62 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 2.05 and a beta of 0.68.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State Street Corp lifted its stake in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after purchasing an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of DTE Energy by 44,009.5% during the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after purchasing an additional 7,023,042 shares during the period. Ameriprise Financial Inc. lifted its position in shares of DTE Energy by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after buying an additional 86,205 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of DTE Energy by 2.4% in 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 buying an additional 64,880 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of DTE Energy by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,274,837 shares of the utilities provider’s stock valued at $163,702,000 after buying an additional 14,937 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

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.