DTE Energy (NYSE:DTE) Coverage Initiated by Analysts at Barclays

Posted by Defense World Staff on Aug 24th, 2023

Barclays initiated coverage on shares of DTE Energy (NYSE:DTE – Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $117.00 price target on the utilities provider’s stock.

A number of other equities research analysts have also issued reports on DTE. JPMorgan Chase & Co. raised their price target on shares of DTE Energy from $120.00 to $121.00 in a report on Wednesday, July 12th. Mizuho raised their price target on shares of DTE Energy from $119.00 to $121.00 in a report on Thursday, July 13th. StockNews.com began coverage on shares of DTE Energy in a report on Thursday, August 17th. They issued a hold rating on the stock. Morgan Stanley raised their price target on shares of DTE Energy from $120.00 to $122.00 and gave the stock an overweight rating in a report on Friday, July 21st. Finally, 888 reaffirmed a maintains rating on shares of DTE Energy in a research report on Thursday, June 29th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, DTE Energy presently has an average rating of Moderate Buy and an average price target of $87.07.

Get Our Latest Analysis on DTE Energy

DTE Energy Price Performance

DTE stock opened at $105.26 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.63 and a current ratio of 0.89. DTE Energy has a 52 week low of $100.64 and a 52 week high of $136.63. The firm’s fifty day moving average is $110.58 and its 200 day moving average is $86.56. The firm has a market cap of $21.70 billion, a P/E ratio of 16.37, a P/E/G ratio of 2.83 and a beta of 0.59.

DTE Energy (NYSE:DTE – Get Free Report) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. DTE Energy had a net margin of 8.02% and a return on equity of 10.44%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the firm earned $0.88 EPS. Research analysts predict that DTE Energy will post 6.18 earnings per share for the current year.

DTE Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be given a dividend of $0.952 per share. The ex-dividend date is Friday, September 15th. This represents a $3.81 dividend on an annualized basis and a yield of 3.62%. DTE Energy’s dividend payout ratio (DPR) is currently 59.25%.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 700 shares of DTE Energy stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $110.41, for a total transaction of $77,287.00. Following the completion of the transaction, the vice president now directly owns 5,455 shares of the company’s stock, valued at approximately $602,286.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other DTE Energy news, VP Lisa A. Muschong sold 700 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $110.41, for a total transaction of $77,287.00. Following the completion of the sale, the vice president now directly owns 5,455 shares in the company, valued at approximately $602,286.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $113.53, for a total transaction of $283,825.00. Following the sale, the senior vice president now owns 12,107 shares of the company’s stock, valued at $1,374,507.71. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of DTE Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new stake in shares of DTE Energy in the first quarter worth approximately $26,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of DTE Energy in the fourth quarter worth approximately $29,000. Caldwell Sutter Capital Inc. grew its stake in shares of DTE Energy by 60.6% in the second quarter. Caldwell Sutter Capital Inc. now owns 265 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 100 shares during the period. Mcmillion Capital Management Inc. bought a new stake in shares of DTE Energy in the second quarter worth approximately $29,000. Finally, BerganKDV Wealth Management LLC grew its stake in shares of DTE Energy by 462.0% in the first quarter. BerganKDV Wealth Management LLC now owns 281 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 231 shares during the period. 74.33% of the stock is currently owned by institutional investors.

About DTE Energy

(Get Free Report)

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 solar assets.