DTE Energy (NYSE:DTE) Hits New 12-Month High - Time to Buy?

Key Points

• DTE Energy reached a new 52-week high of $142.05 during trading, with analysts maintaining a positive outlook and raising target prices.
• The company announced a quarterly dividend of $1.09, yielding 3.1%, with an ex-dividend date set for September 15th.
• Investors display increasing interest, with institutional ownership now at about 76.06% following various stake increases from large investors.

DTE Energy Company (NYSE:DTE - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $142.05 and last traded at $141.31, with a volume of 60934 shares changing hands. The stock had previously closed at $139.73.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup reissued a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Wells Fargo & Company raised their target price on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised 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. Wall Street Zen raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Evercore ISI raised their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.29.

DTE Energy Stock Performance

The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The firm's 50 day simple moving average is $135.56 and its 200 day simple moving average is $133.96. The firm has a market capitalization of $29.28 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.73 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $2.67 billion. Sell-side analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is currently 62.73%.

Insider Activity

In related news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the sale, the vice president owned 4,153 shares of the company's stock, valued at approximately $583,621.09. The trade was a 27.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

A number of large investors have recently added to or reduced their stakes in DTE. Jump Financial LLC raised its position in DTE Energy by 6.1% during the fourth quarter. Jump Financial LLC now owns 6,396 shares of the utilities provider's stock worth $772,000 after acquiring an additional 370 shares during the period. GeoWealth Management LLC raised its position in DTE Energy by 62.9% during the fourth quarter. GeoWealth Management LLC now owns 1,619 shares of the utilities provider's stock worth $195,000 after acquiring an additional 625 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of DTE Energy by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 752,776 shares of the utilities provider's stock worth $90,897,000 after buying an additional 15,342 shares in the last quarter. Norinchukin Bank The grew its holdings in shares of DTE Energy by 12.0% during the fourth quarter. Norinchukin Bank The now owns 9,841 shares of the utilities provider's stock worth $1,188,000 after buying an additional 1,056 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of DTE Energy by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 54,806 shares of the utilities provider's stock worth $6,618,000 after buying an additional 985 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

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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