DTE Energy (NYSE:DTE) Hits New 12-Month High After Analyst Upgrade

Key Points

• DTE Energy reached a new 52-week high of $142.26 following an upgrade from Wall Street Zen, who changed their rating from sell to hold.
• JPMorgan Chase raised DTE Energy's target price from $145.00 to $147.00, while seven analysts rated the stock as a Buy and six as a Hold, with an average consensus price target of $144.00.
• DTE Energy reported a quarterly earnings miss with an EPS of $1.36, slightly below analysts' expectations, but achieved revenue of $2.91 billion, surpassing the consensus estimate of $2.67 billion.

DTE Energy Company (NYSE:DTE - Get Free Report) hit a new 52-week high during mid-day trading on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock traded as high as $142.23 and last traded at $142.26, with a volume of 87297 shares changing hands. The stock had previously closed at $140.01.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. BMO Capital Markets upped their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Barclays increased their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley reduced their price objective on shares of DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Finally, Scotiabank reissued a "sector perform" rating and issued a $147.00 price objective on shares of DTE Energy in a research report on Friday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.00.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in shares of DTE Energy by 5.1% during the first quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after purchasing an additional 107 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of DTE Energy during the first quarter valued at approximately $567,000. Goldman Sachs Group Inc. boosted its stake in shares of DTE Energy by 65.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider's stock valued at $223,019,000 after purchasing an additional 637,378 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of DTE Energy by 3.6% during the first quarter. Focus Partners Wealth now owns 181,905 shares of the utilities provider's stock valued at $25,152,000 after purchasing an additional 6,375 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of DTE Energy by 17.7% during the first quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock valued at $293,000 after purchasing an additional 318 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Trading Up 1.3%

The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The stock's 50 day moving average price is $138.02 and its 200-day moving average price is $135.68. The stock has a market capitalization of $29.45 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.78 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, equities research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current 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.

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