DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets. This segment owns and operates approximately 698 distribution substations and 449,800 line transformers. The company's Gas segment purchases, stores, transports, distributes, and sells natural gas to approximately 1.3 million residential, commercial, and industrial customers throughout Michigan; and sells storage and transportation capacity. This segment has approximately 20,000 miles of distribution mains; 1,304,000 service pipelines; and 1,305,000 active meters, as well as owns approximately 2,000 miles of transmission pipelines. The company's Power and Industrial Projects segment offers metallurgical coke; pulverized coal and petroleum coke to the steel, pulp and paper, and other industries; and power, steam and chilled water production, and wastewater treatment services, as well as supplies compressed air to industrial customers. Its Energy Trading segment engages in power, natural gas, and environmental marketing and trading; structured transactions; and the optimization of contracted natural gas pipeline transportation and storage positions. The company was founded in 1903 and is headquartered in Detroit, Michigan.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the stock. Barclays lowered their price objective on shares of DTE Energy from $141.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday, July 18th. Citigroup lifted their price target on shares of DTE Energy from $134.00 to $146.00 in a research note on Tuesday, May 3rd. Mizuho cut their price target on shares of DTE Energy from $137.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, July 11th. Morgan Stanley dropped their target price on shares of DTE Energy from $143.00 to $137.00 and set an "overweight" rating on the stock in a research note on Monday, May 23rd. Finally, Credit Suisse Group raised shares of DTE Energy from a "neutral" rating to an "outperform" rating and decreased their target price for the stock from $142.00 to $140.00 in a report on Monday, May 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $132.00.
DTE Energy Price Performance
Shares of DTE Stock traded up $0.10 during mid-day trading on Friday, hitting $129.10. 731,710 shares of the stock traded hands, compared to its average volume of 802,959. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.59. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 3.57 and a beta of 0.60. The company's 50-day simple moving average is $125.85 and its 200-day simple moving average is $126.87. DTE Energy has a twelve month low of $108.22 and a twelve month high of $140.23.
DTE Energy (NYSE:DTE - Get Rating) last released its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.14). DTE Energy had a net margin of 4.27% and a return on equity of 13.31%. During the same period last year, the company earned $1.70 EPS. As a group, equities research analysts expect that DTE Energy will post 6.02 earnings per share for the current year.
DTE Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, September 19th will be issued a $0.885 dividend. The ex-dividend date is Friday, September 16th. This represents a $3.54 annualized dividend and a yield of 2.74%. DTE Energy's payout ratio is 90.31%.
Insider Transactions at DTE Energy
In related news, EVP Robert A. Richard sold 2,900 shares of DTE Energy stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $130.31, for a total value of $377,899.00. Following the transaction, the executive vice president now owns 18,046 shares in the company, valued at approximately $2,351,574.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other DTE Energy news, EVP Robert A. Richard sold 2,900 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $130.31, for a total value of $377,899.00. Following the completion of the sale, the executive vice president now owns 18,046 shares of the company's stock, valued at $2,351,574.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Lisa A. Muschong sold 600 shares of the firm's stock in a transaction on Friday, May 27th. The shares were sold at an average price of $134.28, for a total transaction of $80,568.00. Following the sale, the vice president now owns 3,485 shares in the company, valued at approximately $467,965.80. The disclosure for this sale can be found here. Insiders sold a total of 5,300 shares of company stock valued at $692,701 over the last three months. Corporate insiders own 0.61% of the company's stock.
