DTE Energy (NYSE:DTE) Cut to Sell at StockNews.com

StockNews.com cut shares of DTE Energy (NYSE:DTE) from a hold rating to a sell rating in a research report released on Friday.

Other equities analysts also recently issued research reports about the company. Evercore ISI increased their price target on DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. BMO Capital Markets increased their price target on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research report on Monday, April 21st. Morgan Stanley increased their price target on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Finally, Guggenheim increased their price target on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.31.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $138.19 on Friday. The stock’s fifty day moving average is $134.53 and its two-hundred day moving average is $127.30. The company has a market capitalization of $28.68 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a 52 week low of $108.40 and a 52 week high of $140.39.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. During the same quarter in the prior year, the company posted $1.67 EPS. As a group, analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy’s payout ratio is currently 58.92%.

Insider Activity at DTE Energy

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the sale, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the 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 completion of the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Barclays PLC raised its stake in DTE Energy by 11.9% in the third quarter. Barclays PLC now owns 755,084 shares of the utilities provider’s stock valued at $96,961,000 after buying an additional 80,543 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of DTE Energy by 81.5% in the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 313 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of DTE Energy by 4.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 13,424 shares of the utilities provider’s stock worth $1,621,000 after purchasing an additional 521 shares during the last quarter. Hennessy Advisors Inc. raised its stake in shares of DTE Energy by 2.7% in the fourth quarter. Hennessy Advisors Inc. now owns 53,304 shares of the utilities provider’s stock worth $6,436,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Procyon Advisors LLC raised its stake in shares of DTE Energy by 5.6% in the fourth quarter. Procyon Advisors LLC now owns 11,498 shares of the utilities provider’s stock worth $1,388,000 after purchasing an additional 614 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

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.