Wall Street Zen Upgrades DTE Energy (NYSE:DTE) to Hold

Key Points

• Wall Street Zen has upgraded DTE Energy from a "sell" rating to a "hold" rating, indicating a shift in sentiment towards the stock.
• DTE Energy's average price target is now $144.00, with seven analysts rating it as a Buy, while six have assigned it a Hold rating.
• Shares of DTE Energy increased by 0.5%, closing at $140.02 after trading volume exceeded its average.

DTE Energy (NYSE:DTE - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Friday.

A number of other analysts have also commented on the stock. Morgan Stanley decreased their price target on shares of DTE Energy from $140.00 to $137.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. BMO Capital Markets upped their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research note on Monday, August 25th. Barclays upped their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of DTE Energy in a research note on Saturday, September 27th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $144.00.

DTE Energy Stock Up 0.5%

DTE stock traded up $0.74 during midday trading on Friday, reaching $140.02. 1,722,077 shares of the company's stock traded hands, compared to its average volume of 1,018,377. The company has a market cap of $29.07 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 2.77 and a beta of 0.42. The firm's fifty day moving average price is $138.02 and its 200-day moving average price is $135.69. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. DTE Energy has a 52 week low of $115.59 and a 52 week high of $142.05.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DTE. Vanguard Group Inc. lifted its holdings in shares of DTE Energy by 4.2% in the second quarter. Vanguard Group Inc. now owns 25,964,872 shares of the utilities provider's stock worth $3,439,307,000 after buying an additional 1,042,589 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of DTE Energy by 176.5% in the second quarter. Raymond James Financial Inc. now owns 1,015,208 shares of the utilities provider's stock worth $134,474,000 after buying an additional 648,007 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of DTE Energy by 65.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider's stock worth $223,019,000 after buying an additional 637,378 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after buying an additional 512,567 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of DTE Energy in the first quarter worth about $67,315,000. Institutional investors own 76.06% of the company's stock.

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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