Wall Street Zen Downgrades DTE Energy (NYSE:DTE) to Sell

Key Points

• DTE Energy has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative outlook for the company's stock.
• Despite the downgrade, Citigroup maintains a "buy" rating with an increased target price of $151.00, illustrating differing analyst opinions on the stock's potential.
• As of the latest data, DTE Energy holds an average rating of "Moderate Buy" from analysts, with a consensus price target set at $141.53.

Wall Street Zen downgraded shares of DTE Energy (NYSE:DTE - Free Report) from a hold rating to a sell rating in a research report report published on Saturday.

Several other equities research analysts have also recently commented on DTE. JPMorgan Chase & Co. boosted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Evercore ISI boosted their target price on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. BMO Capital Markets lifted their price target on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research report on Monday, April 21st. Barclays lifted their price target 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. Finally, Morgan Stanley decreased their price target on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $141.53.

DTE Energy Stock Performance

Shares of DTE traded down $0.35 during mid-day trading on Friday, reaching $139.92. 1,195,933 shares of the company's stock traded hands, compared to its average volume of 1,409,811. The business's 50-day moving average price is $134.82 and its 200-day moving average price is $133.07. The stock has a market capitalization of $29.04 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. DTE Energy has a 12 month low of $115.59 and a 12 month high of $141.54.

DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results 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 return on equity of 12.72% and a net margin of 10.16%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. Equities analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.09 per share. 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%.

Hedge Funds Weigh In On DTE Energy

Several institutional investors and hedge funds have recently modified their holdings of DTE. Cloud Capital Management LLC purchased a new position in shares of DTE Energy during the 1st quarter valued at $25,000. Quintet Private Bank Europe S.A. bought a new stake in DTE Energy in the second quarter worth $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy in the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in DTE Energy in the first quarter worth $28,000. Finally, SouthState Corp bought a new stake in DTE Energy in the first quarter worth $29,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

About DTE Energy

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.