DTE Energy (NYSE:DTE) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded DTE Energy from “sell” to “hold,” while broader analyst sentiment remains “Moderate Buy” with an average price target of $154.54.
• DTE Energy shares opened at $126.80, below their 50-day and 200-day moving averages, with a 52-week range of $119.68 to $155.74.
• The company exceeded quarterly earnings expectations, reporting $1.32 in EPS versus the $1.14 consensus estimate; institutional investors own approximately 76.06% of its shares.

DTE Energy (NYSE:DTE - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday, Wall Street Zen reports.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. Truist Financial cut their price objective on DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Morgan Stanley reduced their price objective on DTE Energy from $148.00 to $141.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. BMO Capital Markets lifted their target price on DTE Energy from $132.00 to $134.00 and gave the stock a "market perform" rating in a report on Monday, October 5th. Finally, TD Cowen began coverage on DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $154.54.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $126.80 on Friday. DTE Energy has a 52 week low of $119.68 and a 52 week high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The stock has a market cap of $26.39 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36. The company's 50-day moving average price is $132.85 and its two-hundred day moving average price is $141.79.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter last year, the firm posted $1.36 EPS. As a group, sell-side analysts anticipate that DTE Energy will post 7.71 EPS for the current fiscal year.

Insider Transactions at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the sale, the insider owned 73,122 shares in the company, valued at $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of DTE Energy during the 2nd quarter worth $3,915,284,000. Jupiter Topco LLC bought a new stake in DTE Energy during the 2nd quarter valued at approximately $477,264,000. Bank of America Corp DE bought a new stake in DTE Energy during the 2nd quarter valued at approximately $417,001,000. Millennium Management LLC grew its holdings in DTE Energy by 227.4% in the 4th quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider's stock valued at $352,016,000 after buying an additional 1,895,631 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in DTE Energy in the 2nd quarter valued at approximately $199,563,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Company Profile

DTE Energy Company is a diversified energy company headquartered in Detroit, Michigan. Through its regulated utility operations, the company generates, transmits and distributes electricity and purchases, stores, transports and distributes natural gas. Its utility services primarily support residential, commercial and industrial customers across southeastern Michigan.

DTE Energy also operates businesses involved in energy-related products and services, including renewable energy, energy management, power and industrial projects, and other nonutility activities.

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