Wells Fargo & Co Upgrades DTE Energy (DTE) to Outperform
DTE Energy (NYSE:DTE) was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, The Fly reports.
Several other research analysts have also issued reports on DTE. Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research note on Monday. Guggenheim reiterated a “buy” rating and issued a $121.00 price target on shares of DTE Energy in a research note on Wednesday, January 3rd. Credit Suisse Group decreased their price target on shares of DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Bank of America assumed coverage on shares of DTE Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 price target for the company. Finally, KeyCorp reiterated a “buy” rating and issued a $118.50 price target on shares of DTE Energy in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $114.72.
DTE Energy (NYSE DTE) opened at $103.93 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.08 and a quick ratio of 0.77. DTE Energy has a 1-year low of $96.56 and a 1-year high of $116.74. The company has a market cap of $18,640.00, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 3.09 and a beta of 0.23.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.05). DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the company posted $1.96 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. sell-side analysts predict that DTE Energy will post 5.54 earnings per share for the current fiscal year.
In other DTE Energy news, Chairman Gerard M. Anderson sold 12,389 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the completion of the sale, the chairman now directly owns 83,000 shares in the company, valued at approximately $9,373,190. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in DTE. Pacad Investment Ltd. bought a new stake in DTE Energy during the 2nd quarter valued at about $106,000. Spectrum Management Group Inc. bought a new stake in DTE Energy during the 3rd quarter valued at about $111,000. Sun Life Financial INC increased its stake in DTE Energy by 13,030.0% during the 2nd quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 1,303 shares in the last quarter. D.A. Davidson & CO. increased its stake in DTE Energy by 36.1% during the 2nd quarter. D.A. Davidson & CO. now owns 1,497 shares of the utilities provider’s stock valued at $158,000 after purchasing an additional 397 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in DTE Energy during the 2nd quarter valued at about $161,000. Institutional investors and hedge funds own 68.31% of the company’s stock.
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DTE Energy Company Profile
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