DTE Energy (NYSE:DTE) Stock Rating Reaffirmed by Credit Suisse Group

Credit Suisse Group reissued their neutral rating on shares of DTE Energy (NYSE:DTE) in a research note published on Friday morning, Stock Target Advisor reports.

DTE has been the subject of a number of other reports. Wells Fargo & Co set a $145.00 price objective on shares of DTE Energy and gave the company a buy rating in a report on Monday, October 21st. Bank of America reaffirmed a buy rating on shares of DTE Energy in a report on Saturday, November 2nd. Mizuho set a $134.00 price objective on shares of DTE Energy and gave the company a buy rating in a report on Monday, October 21st. UBS Group reaffirmed a buy rating on shares of DTE Energy in a report on Saturday, November 2nd. Finally, JPMorgan Chase & Co. started coverage on shares of DTE Energy in a report on Tuesday, October 8th. They issued a neutral rating and a $144.00 target price for the company. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. DTE Energy has a consensus rating of Buy and an average price target of $130.17.

DTE traded down $1.29 during trading on Friday, reaching $120.49. 1,403,227 shares of the company traded hands, compared to its average volume of 1,025,313. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.56 and a current ratio of 0.77. DTE Energy has a 12-month low of $107.22 and a 12-month high of $134.37. The firm has a fifty day simple moving average of $129.24 and a 200 day simple moving average of $128.54. The company has a market cap of $22.97 billion, a P/E ratio of 19.13, a PEG ratio of 3.32 and a beta of 0.18.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Monday, October 28th. The utilities provider reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). DTE Energy had a net margin of 8.24% and a return on equity of 9.93%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last year, the business earned $2.13 earnings per share. As a group, sell-side analysts expect that DTE Energy will post 6.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $1.013 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.95. This represents a $4.05 dividend on an annualized basis and a dividend yield of 3.36%. DTE Energy’s dividend payout ratio (DPR) is 60.00%.

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In related news, Chairman Gerard M. Anderson sold 11,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total value of $1,472,230.00. Following the completion of the sale, the chairman now directly owns 80,406 shares in the company, valued at $10,293,576.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $131.00, for a total value of $1,310,000.00. Following the completion of the sale, the chief operating officer now owns 17,111 shares of the company’s stock, valued at $2,241,541. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. CSat Investment Advisory L.P. lifted its position in DTE Energy by 308.6% in the second quarter. CSat Investment Advisory L.P. now owns 429 shares of the utilities provider’s stock worth $55,000 after buying an additional 324 shares during the last quarter. Barrett Asset Management LLC lifted its position in DTE Energy by 70.0% in the second quarter. Barrett Asset Management LLC now owns 510 shares of the utilities provider’s stock worth $65,000 after buying an additional 210 shares during the last quarter. Wells Fargo & Company MN lifted its position in DTE Energy by 5.2% in the second quarter. Wells Fargo & Company MN now owns 1,360,440 shares of the utilities provider’s stock worth $173,974,000 after buying an additional 67,039 shares during the last quarter. Bank of America Corp DE lifted its position in DTE Energy by 0.4% in the second quarter. Bank of America Corp DE now owns 480,573 shares of the utilities provider’s stock worth $61,455,000 after buying an additional 1,785 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC lifted its position in DTE Energy by 2.8% in the second quarter. Quantitative Systematic Strategies LLC now owns 43,391 shares of the utilities provider’s stock worth $5,549,000 after buying an additional 1,191 shares during the last quarter. Institutional investors own 68.91% 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 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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Analyst Recommendations for DTE Energy (NYSE:DTE)

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