DTE Energy (DTE) Coverage Initiated at Citigroup
Citigroup initiated coverage on shares of DTE Energy (NYSE:DTE) in a research note published on Friday morning, MarketBeat.com reports. The firm issued a neutral rating and a $103.00 price objective on the utilities provider’s stock.
A number of other analysts also recently weighed in on DTE. Guggenheim reaffirmed a buy rating and issued a $121.00 target price on shares of DTE Energy in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of DTE Energy from a hold rating to a buy rating and set a $119.00 target price on the stock in a research report on Monday, January 8th. Bank of America upped their target price on shares of DTE Energy from $101.00 to $104.00 and gave the stock an underperform rating in a research report on Tuesday, February 20th. Wells Fargo raised shares of DTE Energy from a market perform rating to an outperform rating in a research report on Friday, January 12th. Finally, KeyCorp reaffirmed a buy rating and issued a $118.50 target price on shares of DTE Energy in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. DTE Energy currently has a consensus rating of Hold and an average price target of $110.40.
Shares of NYSE DTE opened at $103.61 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.10 and a quick ratio of 0.82. DTE Energy has a 12 month low of $97.66 and a 12 month high of $116.74. The firm has a market capitalization of $18,376.20, a price-to-earnings ratio of 18.53, a P/E/G ratio of 2.94 and a beta of 0.15.
The firm also recently announced a quarterly dividend, which was paid on Sunday, April 15th. Stockholders of record on Monday, March 19th were given a $0.8825 dividend. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Friday, March 16th. DTE Energy’s dividend payout ratio is presently 63.15%.
In related news, insider David Ruud sold 7,680 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $100.54, for a total transaction of $772,147.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerard M. Anderson sold 12,500 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $102.53, for a total transaction of $1,281,625.00. Following the sale, the chief executive officer now directly owns 87,358 shares in the company, valued at $8,956,815.74. The disclosure for this sale can be found here. Insiders sold a total of 21,521 shares of company stock worth $2,189,173 over the last ninety days. Insiders own 0.59% of the company’s stock.
A number of hedge funds have recently made changes to their positions in DTE. Stifel Financial Corp grew its position in DTE Energy by 1,852.1% during the 3rd quarter. Stifel Financial Corp now owns 45,776 shares of the utilities provider’s stock valued at $4,911,000 after purchasing an additional 43,431 shares during the last quarter. Vident Investment Advisory LLC purchased a new stake in DTE Energy during the 3rd quarter valued at about $411,000. Caxton Associates LP purchased a new stake in DTE Energy during the 3rd quarter valued at about $301,000. Ladenburg Thalmann Financial Services Inc. grew its position in DTE Energy by 57.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,598 shares of the utilities provider’s stock valued at $1,458,000 after purchasing an additional 4,960 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in DTE Energy by 2.3% during the 3rd quarter. California Public Employees Retirement System now owns 449,911 shares of the utilities provider’s stock valued at $48,302,000 after purchasing an additional 10,095 shares during the last quarter. 68.43% of the stock is currently owned by institutional investors.
About DTE Energy
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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