DTE Energy (NYSE:DTE) Hits New 12-Month High – Time to Buy?

DTE Energy (NYSE:DTE) hit a new 52-week high on Thursday . The company traded as high as $131.84 and last traded at $131.41, with a volume of 772460 shares changing hands. The stock had previously closed at $130.38.

Analyst Ratings Changes

A number of brokerages have weighed in on DTE. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Wells Fargo & Company lifted their target price on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, StockNews.com lowered DTE Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average price target of $135.67.

DTE Energy Trading Up 0.6 %

The company has a 50 day moving average price of $121.73 and a two-hundred day moving average price of $123.21. The firm has a market capitalization of $27.18 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 2.38 and a beta of 0.68. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. On average, research analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.32%. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Activity at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

Institutional investors have recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in DTE Energy during the third quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in DTE Energy in the 3rd quarter valued at about $35,000. Prospera Private Wealth LLC acquired a new position in DTE Energy in the third quarter valued at about $35,000. Versant Capital Management Inc boosted its stake in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the period. Finally, Coastline Trust Co acquired a new stake in shares of DTE Energy during the third quarter valued at about $39,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Company Profile

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.