DTE Energy (NYSE:DTE) Stock Rating Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded DTE Energy from “hold” to “sell,” despite the broader analyst consensus remaining “Moderate Buy” with an average price target of $154.38.
• DTE shares opened at $124.39, near their 12-month low of $119.68 and below both their 50-day and 200-day moving averages, reflecting ongoing technical weakness.
• The company beat quarterly earnings expectations with $1.32 in EPS versus $1.14 forecast, while an insider sold 5,000 shares; institutional investors own approximately 76.06% of the stock.

DTE Energy (NYSE:DTE - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other brokerages have also recently weighed in on DTE. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price objective on shares of DTE Energy in a research note on Monday, June 15th. Morgan Stanley reduced their price objective on DTE Energy from $148.00 to $141.00 and set an "overweight" rating on the stock in a research report on Friday, September 18th. Truist Financial decreased their price target on shares of DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Mizuho lowered their price target on shares of DTE Energy from $152.00 to $136.00 and set an "outperform" rating for the company in a report on Monday, September 28th. Finally, BMO Capital Markets decreased their target price on DTE Energy from $143.00 to $132.00 and set a "market perform" rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $154.38.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $124.39 on Friday. DTE Energy has a 12-month low of $119.68 and a 12-month high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The company has a market cap of $25.88 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.36. The company's fifty day moving average is $134.58 and its two-hundred day moving average is $142.49.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion for 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 earnings per share. Equities analysts expect that DTE Energy will post 7.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the transaction, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

Institutional investors have recently modified their holdings of the company. First Bancorp Inc ME acquired a new stake in shares of DTE Energy in the second quarter worth $29,000. Key Financial Inc acquired a new position in DTE Energy in the 1st quarter valued at $29,000. Community Bank N.A. bought a new position in DTE Energy in the 2nd quarter worth $31,000. N.E.W. Advisory Services LLC bought a new position in DTE Energy in the 2nd quarter worth $35,000. Finally, Optiver Holding B.V. acquired a new position in DTE Energy during the 1st quarter worth $36,000. 76.06% of the stock is currently owned by institutional investors.

Key DTE Energy News

Here are the key news stories impacting DTE Energy this week:

• Positive Sentiment: Michigan regulators approved 20-year power-supply contracts between DTE and Google for a large data center in Wayne County. The agreement could provide DTE with a sizable, long-duration commercial customer and greater visibility into future electricity demand. State regulators approve 20-year DTE contracts for Google data center in Wayne County
• Positive Sentiment: DTE completed construction of the 100-megawatt Cold Creek Solar Park near Coldwater, Michigan. The project was funded through Ford Motor Company’s participation in DTE’s MIGreenPower program, supporting Ford’s renewable-energy goals while expanding DTE’s renewable-generation portfolio and customer relationships. DTE Energy completes construction on Cold Creek Solar Park
• Neutral Sentiment: DTE launched its annual “Month of Warmth” customer-assistance campaign to help households apply for state energy-assistance funding and manage winter bills. The initiative may support customer relations but is unlikely to materially affect near-term earnings. New energy assistance funding opens October 1
• Negative Sentiment: Ladenburg Thalmann lowered its DTE price target to $135.50 from $153 while retaining a Buy rating. Although the recommendation remains positive, the sizable target reduction signals more cautious expectations and limits near-term upside. Ladenburg Thalmann adjusts price target on DTE Energy
• Negative Sentiment: BMO Capital Markets also cut its price target, and DTE shares subsequently reached a new 52-week low after an analyst downgrade. The stock remains below its 50-day and 200-day moving averages, reinforcing the current technical weakness. DTE Energy stock price target cut by BMO Capital Markets

About DTE Energy

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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