DTE Energy (NYSE:DTE) Hits New 52-Week High After Analyst Upgrade

DTE Energy (NYSE:DTE)’s share price reached a new 52-week high during trading on Wednesday after KeyCorp raised their price target on the stock from $136.00 to $138.00. KeyCorp currently has an overweight rating on the stock. DTE Energy traded as high as $129.63 and last traded at $129.58, with a volume of 361712 shares. The stock had previously closed at $128.23.

A number of other research analysts also recently issued reports on DTE. Scotiabank upped their price objective on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. LADENBURG THALM/SH SH began coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Morgan Stanley upped their price target on DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Finally, Jefferies Financial Group began coverage on DTE Energy in a research report on Monday. They issued a “hold” rating and a $137.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $130.54.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. UniSuper Management Pty Ltd lifted its position in shares of DTE Energy by 407.3% during the first quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock valued at $1,202,000 after buying an additional 8,603 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in DTE Energy by 9.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock valued at $13,934,000 after acquiring an additional 11,218 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in DTE Energy by 6.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock worth $25,139,000 after purchasing an additional 14,022 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in DTE Energy by 12.6% in the first quarter. Canada Pension Plan Investment Board now owns 381,985 shares of the utilities provider’s stock worth $42,836,000 after purchasing an additional 42,635 shares during the last quarter. Finally, Founders Financial Securities LLC purchased a new position in DTE Energy in the first quarter worth $802,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Up 1.1 %

The company’s fifty day simple moving average is $125.36 and its 200-day simple moving average is $117.58. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The firm has a market capitalization of $26.81 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, analysts forecast that DTE Energy will post 6.7 EPS for the current year.

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.