DTE Energy (NYSE:DTE) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of DTE Energy (NYSE:DTE) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other research analysts also recently weighed in on the stock. Morgan Stanley restated an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. Bank of America reaffirmed a “buy” rating on shares of DTE Energy in a research note on Wednesday, April 22nd. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a report on Thursday, July 9th. Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, TD Cowen started coverage on DTE Energy in a research note on Tuesday, July 7th. They set a “hold” rating and a $166.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.62.

DTE Energy Price Performance

DTE stock opened at $140.99 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy has a 1 year low of $126.23 and a 1 year high of $155.74. The firm has a market cap of $29.34 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. The stock has a 50-day simple moving average of $146.78 and a 200-day simple moving average of $145.24.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the prior year, the business earned $1.36 EPS. On average, equities analysts predict that DTE Energy will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is currently 73.73%.

Institutional Investors Weigh In On DTE Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Bancorp Inc ME acquired a new position in DTE Energy in the second quarter worth $29,000. Laurel Wealth Advisors LLC bought a new position in shares of DTE Energy in the 4th quarter worth about $25,000. Key Financial Inc bought a new position in shares of DTE Energy in the 1st quarter worth about $29,000. Torren Management LLC acquired a new position in shares of DTE Energy in the 4th quarter valued at about $26,000. Finally, Quest 10 Wealth Builders Inc. boosted its holdings in shares of DTE Energy by 754.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock valued at $26,000 after buying an additional 181 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.