DTE Energy’s (DTE) Neutral Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reaffirmed their neutral rating on shares of DTE Energy (NYSE:DTE) in a research report sent to investors on Friday morning, Stock Target Advisor reports.

DTE has been the topic of a number of other research reports. UBS Group reiterated a buy rating on shares of DTE Energy in a research note on Saturday, November 2nd. Mizuho set a $134.00 price target on shares of DTE Energy and gave the stock a buy rating in a research note on Monday, October 21st. ValuEngine cut shares of DTE Energy from a buy rating to a hold rating in a research note on Saturday, August 10th. Bank of America reiterated a buy rating on shares of DTE Energy in a research note on Saturday, November 2nd. Finally, Wells Fargo & Co set a $145.00 price target on shares of DTE Energy and gave the stock a buy rating in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $130.17.

Shares of NYSE:DTE traded down $1.29 during midday trading on Friday, reaching $120.49. The company’s stock had a trading volume of 1,403,227 shares, compared to its average volume of 1,025,313. The firm has a 50 day moving average of $129.24 and a 200-day moving average of $128.54. The firm has a market capitalization of $22.97 billion, a P/E ratio of 19.13, a PEG ratio of 3.32 and a beta of 0.18. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.28. DTE Energy has a 12-month low of $107.22 and a 12-month high of $134.37.

DTE Energy (NYSE:DTE) last released its earnings results on Monday, October 28th. The utilities provider reported $1.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.00 by ($0.09). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.65 billion. DTE Energy had a return on equity of 9.93% and a net margin of 8.24%. During the same period in the prior year, the company earned $2.13 earnings per share. On average, research analysts predict that DTE Energy will post 6.2 EPS for the current year.

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

In related news, Director Gary Torgow bought 1,537 shares of the stock in a transaction on Thursday, September 5th. The shares were acquired at an average price of $129.95 per share, for a total transaction of $199,733.15. Following the purchase, the director now owns 2,537 shares of the company’s stock, valued at $329,683.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Gerard M. Anderson sold 11,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $128.02, for a total transaction of $1,472,230.00. Following the transaction, the chairman now owns 80,406 shares in the company, valued at approximately $10,293,576.12. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. CSat Investment Advisory L.P. lifted its stake in DTE Energy by 308.6% during the 2nd quarter. CSat Investment Advisory L.P. now owns 429 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 324 shares during the period. Barrett Asset Management LLC lifted its stake in DTE Energy by 70.0% during the 2nd quarter. Barrett Asset Management LLC now owns 510 shares of the utilities provider’s stock valued at $65,000 after acquiring an additional 210 shares during the period. Wells Fargo & Company MN lifted its stake in DTE Energy by 5.2% during the 2nd quarter. Wells Fargo & Company MN now owns 1,360,440 shares of the utilities provider’s stock valued at $173,974,000 after acquiring an additional 67,039 shares during the period. Bank of America Corp DE lifted its stake in DTE Energy by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 480,573 shares of the utilities provider’s stock valued at $61,455,000 after acquiring an additional 1,785 shares during the period. Finally, Quantitative Systematic Strategies LLC lifted its stake in DTE Energy by 2.8% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 43,391 shares of the utilities provider’s stock valued at $5,549,000 after acquiring an additional 1,191 shares during the period. Institutional investors and hedge funds 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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