DTE Energy (NYSE:DTE) Lowered to Equal Weight Rating by Barclays

Barclays cut shares of DTE Energy (NYSE:DTE) from an overweight rating to an equal weight rating in a research report sent to investors on Thursday, MarketBeat reports. They currently have $135.00 price target on the utilities provider’s stock, down from their previous price target of $137.00.

A number of other research analysts have also recently issued reports on DTE. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley cut their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.67.

DTE Energy Price Performance

DTE Energy stock opened at $131.07 on Thursday. The stock has a market cap of $27.16 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 2.38 and a beta of 0.68. DTE Energy has a 12-month low of $103.06 and a 12-month high of $131.84. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The business’s 50-day simple moving average is $121.93 and its 200 day simple moving average is $123.27.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. As a group, research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Insider Buying and Selling at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in DTE Energy by 24.0% in the 4th quarter. Toronto Dominion Bank now owns 114,936 shares of the utilities provider’s stock valued at $13,879,000 after purchasing an additional 22,265 shares during the period. Vise Technologies Inc. acquired a new stake in shares of DTE Energy during the fourth quarter worth $213,000. PharVision Advisers LLC bought a new stake in shares of DTE Energy in the fourth quarter valued at about $629,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of DTE Energy by 28.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 777,132 shares of the utilities provider’s stock valued at $93,839,000 after acquiring an additional 171,371 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of DTE Energy by 39.4% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 40,810 shares of the utilities provider’s stock valued at $4,928,000 after acquiring an additional 11,543 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

About DTE Energy

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.