DTE Energy (NYSE:DTE) Hits New 52-Week Low on Analyst Downgrade

Key Points

• DTE Energy shares hit a new 52-week low, falling to $126.23 after Morgan Stanley cut its price target from $148 to $141, while maintaining an overweight rating.
• Despite the downgrade, analysts remain broadly positive: DTE has a “Moderate Buy” consensus rating and an average price target of $156.46, versus its recent trading price near $126.
• Vice Chairman Trevor Lauer sold 5,000 shares for approximately $678,550, while institutional investors own 76.06% of the company. DTE’s latest quarterly earnings also exceeded expectations, with EPS of $1.32 versus the $1.14 consensus estimate.

DTE Energy Company (NYSE:DTE - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $148.00 to $141.00. Morgan Stanley currently has an overweight rating on the stock. DTE Energy traded as low as $126.23 and last traded at $126.2940, with a volume of 597707 shares. The stock had previously closed at $128.52.

DTE has been the subject of several other reports. Weiss Ratings raised shares of DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. Truist Financial dropped their target price on DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. TD Cowen initiated coverage on DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on DTE Energy from $155.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $156.46.

Insider Activity at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction dated 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 transaction, the insider owned 73,122 shares of the company's stock, valued at approximately $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company 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 stock. Anchor Investment Management LLC raised its holdings in DTE Energy by 68.0% in the second quarter. Anchor Investment Management LLC now owns 284 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 115 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in DTE Energy by 5.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,355 shares of the utilities provider's stock worth $3,711,000 after acquiring an additional 1,319 shares in the last quarter. Tidal Investments LLC increased its position in shares of DTE Energy by 10.2% in the 2nd quarter. Tidal Investments LLC now owns 8,380 shares of the utilities provider's stock worth $1,277,000 after purchasing an additional 775 shares during the last quarter. Cidel Asset Management Inc. raised its stake in shares of DTE Energy by 7.6% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,924 shares of the utilities provider's stock valued at $293,000 after purchasing an additional 136 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in shares of DTE Energy by 53.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 9,529 shares of the utilities provider's stock valued at $1,452,000 after purchasing an additional 3,304 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Down 1.8%

The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The firm's 50-day moving average price is $139.60 and its 200 day moving average price is $144.26. The firm has a market cap of $26.27 billion, a P/E ratio of 19.98, a PEG ratio of 2.79 and a beta of 0.37.

DTE Energy (NYSE:DTE - Get Free Report) last announced 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. 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 period in the previous year, the company earned $1.36 earnings per share. On average, equities research analysts expect that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Company Profile

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.

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