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

Key Points

• Wall Street Zen downgraded DTE Energy to “sell” from “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $158.62.
• DTE shares opened at $140.84, below their 50-day and 200-day moving averages, and have traded between $126.23 and $155.74 over the past year.
• DTE reported quarterly EPS of $1.32, beating the $1.14 consensus estimate, while institutional investors own approximately 76.06% of the company’s stock.

DTE Energy (NYSE:DTE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Other analysts have also issued research reports about the stock. TD Cowen assumed coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They set a "hold" rating and a $166.00 price target for the company. BMO Capital Markets lifted their price objective on shares of DTE Energy from $148.00 to $150.00 and gave the company a "market perform" rating in a report on Wednesday, July 29th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. Bank of America reissued a "buy" rating on shares of DTE Energy in a research note on Wednesday, April 22nd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of DTE Energy in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $158.62.

DTE Energy Stock Performance

Shares of DTE opened at $140.84 on Friday. DTE Energy has a one year low of $126.23 and a one year high of $155.74. The company has a market cap of $29.31 billion, a PE ratio of 22.29, a P/E/G ratio of 3.05 and a beta of 0.38. The stock has a 50-day moving average of $146.83 and a 200-day moving average of $145.14. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly 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. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, equities research analysts predict that DTE Energy will post 7.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System purchased a new stake in DTE Energy during the first quarter worth about $1,550,000. Convergence Investment Partners LLC bought a new position in shares of DTE Energy during the 1st quarter valued at approximately $3,142,000. Capital Innovations LLC bought a new position in shares of DTE Energy during the 4th quarter valued at approximately $1,014,000. Vanguard Group Inc. increased its stake in shares of DTE Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider's stock worth $3,392,888,000 after purchasing an additional 766,499 shares during the last quarter. Finally, Oxbow Advisors LLC bought a new stake in shares of DTE Energy in the 4th quarter worth approximately $3,145,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company's utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.

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