DTE Energy (NYSE:DTE) Coverage Initiated by Analysts at HSBC

Analysts at HSBC initiated coverage on shares of DTE Energy (NYSE:DTE) in a report released on Thursday, MarketBeat.com reports. The firm set a “hold” rating and a $135.00 price target on the utilities provider’s stock. HSBC’s price objective points to a potential upside of 4.10% from the stock’s previous close.

DTE has been the topic of a number of other research reports. Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a research report on Monday. Weiss Ratings downgraded shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a research report on Thursday, July 9th. Morgan Stanley lowered their price target on shares of DTE Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, TD Cowen initiated coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.50.

DTE Energy Stock Up 0.3%

NYSE:DTE opened at $129.69 on Thursday. DTE Energy has a twelve month low of $119.68 and a twelve month high of $155.74. The company has a market cap of $26.99 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 2.55 and a beta of 0.36. The stock has a fifty day simple moving average of $131.11 and a 200-day simple moving average of $140.83. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.18. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Analysts anticipate that DTE Energy will post 7.70 EPS for the current year.

Insider Buying and Selling at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider directly owned 73,122 shares in the company, valued at $9,923,386.62. The trade was a 6.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in DTE Energy in the second quarter worth about $3,915,284,000. Jupiter Topco LLC purchased a new position in shares of DTE Energy in the 2nd quarter valued at approximately $477,264,000. Janus Henderson Group PLC raised its position in shares of DTE Energy by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock valued at $451,022,000 after purchasing an additional 40,346 shares during the last quarter. Bank of America Corp DE acquired a new stake in DTE Energy in the 2nd quarter worth approximately $417,001,000. Finally, Soroban Capital Partners LP boosted its stake in DTE Energy by 2.0% in the 1st quarter. Soroban Capital Partners LP now owns 2,038,473 shares of the utilities provider’s stock worth $298,066,000 after purchasing an additional 39,963 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

About DTE Energy

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.