DTE Energy (NYSE:DTE) Rating Lowered to Sector Perform at Scotiabank

DTE Energy (NYSE:DTE) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Friday, Marketbeat.com reports. They presently have a $147.00 target price on the utilities provider’s stock. Scotiabank’s price objective suggests a potential upside of 4.99% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Wall Street Zen raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday. Morgan Stanley dropped their price objective on DTE Energy from $140.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Barclays raised their target price on DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research report on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.00.

DTE Energy Trading Up 0.5%

DTE Energy stock opened at $140.02 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. DTE Energy has a one year low of $115.59 and a one year high of $142.05. The stock has a market capitalization of $29.07 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The business’s fifty day moving average is $138.02 and its 200 day moving average is $135.69.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.67 billion. On average, sell-side analysts predict that DTE Energy will post 7.18 EPS for the current year.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president directly owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of DTE Energy by 4.2% in the second quarter. Vanguard Group Inc. now owns 25,964,872 shares of the utilities provider’s stock worth $3,439,307,000 after buying an additional 1,042,589 shares during the period. State Street Corp raised its stake in shares of DTE Energy by 2.2% in the second quarter. State Street Corp now owns 10,558,531 shares of the utilities provider’s stock worth $1,409,833,000 after buying an additional 222,353 shares during the period. Geode Capital Management LLC raised its stake in shares of DTE Energy by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,250,341 shares of the utilities provider’s stock worth $692,535,000 after buying an additional 154,594 shares during the period. Invesco Ltd. raised its stake in shares of DTE Energy by 1.3% in the second quarter. Invesco Ltd. now owns 2,387,012 shares of the utilities provider’s stock worth $316,184,000 after buying an additional 31,635 shares during the period. Finally, Northern Trust Corp raised its stake in shares of DTE Energy by 0.5% in the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock worth $253,979,000 after buying an additional 9,664 shares during the period. Institutional investors own 76.06% of the company’s stock.

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.