DTE Energy (NYSE:DTE) Reaches New 12-Month High – Time to Buy?

DTE Energy (NYSE:DTE)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $133.49 and last traded at $133.33, with a volume of 993563 shares changing hands. The stock had previously closed at $132.38.

Analyst Ratings Changes

Several brokerages have recently commented on DTE. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Scotiabank increased their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.67.

DTE Energy Price Performance

The firm has a market capitalization of $27.63 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. 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 company’s fifty day moving average is $122.62 and its two-hundred day moving average is $123.59.

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

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is currently 64.40%.

Insider Activity

In related news, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction 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 approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock valued at $1,559,205 in the last ninety days. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On DTE Energy

Several institutional investors have recently modified their holdings of DTE. Legacy Investment Solutions LLC bought a new stake in DTE Energy during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new stake in shares of DTE Energy during the third quarter worth $35,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy during the third quarter worth $35,000. Versant Capital Management Inc lifted its position in DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in DTE Energy in the 3rd quarter valued at $39,000. 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.