HSBC Initiates Coverage on DTE Energy (NYSE:DTE)

Key Points

• HSBC initiated coverage of DTE Energy with a “hold” rating and a $135 price target, implying roughly 4.1% upside from the reported share price.
• Analyst sentiment remains somewhat positive overall: DTE has a “Moderate Buy” consensus rating and an average price target of $150.50, despite recent downgrades and reduced targets from some brokerages.
• DTE reported quarterly EPS of $1.32, beating the $1.14 consensus estimate, while analysts expect full-year EPS of approximately $7.70.

Investment analysts at HSBC initiated coverage on shares of DTE Energy (NYSE:DTE - Get Free Report) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage set a "hold" rating and a $135.00 price target on the utilities provider's stock. HSBC's price objective suggests a potential upside of 4.10% from the stock's current price.

Several other brokerages have also recently issued reports on DTE. TD Cowen assumed coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They issued a "hold" rating and a $166.00 target price for the company. Mizuho lowered their price target on DTE Energy from $152.00 to $136.00 and set an "outperform" rating on the stock in a report on Monday, September 28th. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on DTE Energy from $155.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Finally, Barclays reduced their price objective on DTE Energy from $154.00 to $135.00 and set an "equal weight" rating for the company in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $150.50.

DTE Energy Stock Up 0.3%

Shares of DTE Energy stock opened at $129.69 on Thursday. 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 company's fifty day simple moving average is $131.11 and its two-hundred day simple moving average is $140.83. The company has a market cap of $26.99 billion, a P/E ratio of 20.52, a PEG ratio of 2.55 and a beta of 0.36. DTE Energy has a 12-month low of $119.68 and a 12-month high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company earned $1.36 EPS. Research analysts anticipate that DTE Energy will post 7.70 EPS for the current year.

Insider Activity at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm's stock in a transaction 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 of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of DTE Energy

Hedge funds have recently made changes to their positions in the business. Key Financial Inc bought a new stake in DTE Energy during the first quarter worth approximately $29,000. First Bancorp Inc ME purchased a new position in shares of DTE Energy in the 2nd quarter worth approximately $29,000. Community Bank N.A. purchased a new position in shares of DTE Energy in the 2nd quarter worth approximately $31,000. Elevation Wealth Partners LLC raised its holdings in DTE Energy by 682.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider's stock valued at $32,000 after buying an additional 232 shares during the period. Finally, SHP Wealth Management purchased a new stake in DTE Energy during the 4th quarter valued at $35,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Company Profile

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.

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