DTE Energy (NYSE:DTE) had its target price upped by UBS Group from $132.00 to $134.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the utilities provider’s stock.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut DTE Energy from a hold rating to a sell rating in a research report on Thursday, March 28th. ValuEngine cut DTE Energy from a buy rating to a hold rating in a research report on Thursday, April 4th. Credit Suisse Group set a $117.00 price objective on DTE Energy and gave the company a sell rating in a research report on Monday, April 22nd. Finally, Macquarie set a $123.00 price objective on DTE Energy and gave the company a buy rating in a research report on Saturday, February 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $119.46.
Shares of NYSE DTE traded up $0.17 during trading on Thursday, reaching $124.34. The company had a trading volume of 761,103 shares, compared to its average volume of 888,679. DTE Energy has a 12-month low of $94.25 and a 12-month high of $126.07. The stock has a market cap of $22.78 billion, a P/E ratio of 19.74, a P/E/G ratio of 3.35 and a beta of 0.26. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were given a $0.945 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.78 annualized dividend and a yield of 3.04%. DTE Energy’s payout ratio is 60.00%.
In other DTE Energy news, VP Lisa A. Muschong sold 2,616 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $119.80, for a total value of $313,396.80. Following the transaction, the vice president now directly owns 2,933 shares of the company’s stock, valued at $351,373.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gerard M. Anderson sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $119.39, for a total value of $1,313,290.00. Following the completion of the transaction, the chairman now directly owns 79,906 shares in the company, valued at $9,539,977.34. The disclosure for this sale can be found here. Insiders sold 15,316 shares of company stock worth $1,834,835 over the last three months. Insiders own 0.55% of the company’s stock.
A number of large investors have recently made changes to their positions in DTE. BlackRock Inc. boosted its position in DTE Energy by 3.9% in the fourth quarter. BlackRock Inc. now owns 15,212,035 shares of the utilities provider’s stock worth $1,677,888,000 after purchasing an additional 577,066 shares during the last quarter. Morgan Stanley raised its stake in shares of DTE Energy by 69.7% in the third quarter. Morgan Stanley now owns 771,744 shares of the utilities provider’s stock worth $84,221,000 after buying an additional 316,990 shares during the period. Vanguard Group Inc raised its stake in shares of DTE Energy by 1.6% in the third quarter. Vanguard Group Inc now owns 19,856,235 shares of the utilities provider’s stock worth $2,166,911,000 after buying an additional 311,679 shares during the period. Hexavest Inc. raised its stake in shares of DTE Energy by 131.5% in the fourth quarter. Hexavest Inc. now owns 529,115 shares of the utilities provider’s stock worth $58,361,000 after buying an additional 300,578 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of DTE Energy by 39.2% in the fourth quarter. California Public Employees Retirement System now owns 953,273 shares of the utilities provider’s stock worth $105,146,000 after buying an additional 268,690 shares during the period. 70.47% of the stock is currently owned by institutional investors and hedge funds.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 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.
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