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.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on DTE. Barclays dropped their price target 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. Morgan Stanley dropped their price target on shares of DTE Energy from $143.00 to $137.00 and set an "overweight" rating for the company in a research report on Monday, May 23rd. Mizuho lowered their price objective on shares of DTE Energy from $137.00 to $130.00 and set a "buy" rating for the company in a research report on Monday, July 11th. Citigroup boosted their price objective on shares of DTE Energy from $134.00 to $146.00 in a research report on Tuesday, May 3rd. Finally, Credit Suisse Group upgraded shares of DTE Energy from a "neutral" rating to an "outperform" rating and lowered their price objective for the company from $142.00 to $140.00 in a research report on Monday, May 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, DTE Energy has a consensus rating of "Moderate Buy" and an average target price of $132.00.
DTE Energy Stock Performance
NYSE:DTE opened at $129.10 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.59. DTE Energy has a fifty-two week low of $108.22 and a fifty-two week high of $140.23. The stock has a market cap of $25.01 billion, a PE ratio of 32.93, a PEG ratio of 3.57 and a beta of 0.60. The firm's fifty day moving average price is $125.85 and its two-hundred day moving average price is $126.81.
DTE Energy (NYSE:DTE - Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.14). DTE Energy had a return on equity of 13.31% and a net margin of 4.27%. During the same quarter in the prior year, the firm posted $1.70 earnings per share. On average, equities analysts expect that DTE Energy will post 6.02 EPS for the current fiscal year.
DTE Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, September 19th will be paid a $0.885 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $3.54 annualized dividend and a dividend yield of 2.74%. DTE Energy's dividend payout ratio is 90.31%.
Insider Activity at DTE Energy
In related news, VP Lisa A. Muschong sold 600 shares of the business's stock in a transaction on Friday, May 27th. The shares were sold at an average price of $134.28, for a total value of $80,568.00. Following the transaction, the vice president now owns 3,485 shares in the company, valued at $467,965.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Robert A. Richard sold 2,900 shares of the business's 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 $2,351,574.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Lisa A. Muschong sold 600 shares of the business'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 completion of the transaction, 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 have sold a total of 5,300 shares of company stock worth $692,701 over the last quarter. Company insiders own 0.61% of the company's stock.
