DTE Energy Company (NYSE:DTE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of DTE Energy Company (NYSE:DTE) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $157.00.

A number of research analysts have issued reports on DTE shares. Mizuho reduced their price objective on DTE Energy from $164.00 to $152.00 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial cut their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley cut their price target on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. BMO Capital Markets reduced their price target on shares of DTE Energy from $150.00 to $143.00 and set a “market perform” rating for the company in a research report on Friday. Finally, TD Cowen assumed coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price objective for the company.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds have recently modified their holdings of DTE. California State Teachers Retirement System grew its stake in shares of DTE Energy by 15,158.5% during the 2nd quarter. California State Teachers Retirement System now owns 36,841,390 shares of the utilities provider’s stock worth $5,613,523,000 after acquiring an additional 36,599,942 shares during the period. BlackRock Inc. purchased a new stake in DTE Energy during the second quarter valued at about $3,915,284,000. Capital Research Global Investors boosted its position in DTE Energy by 3.1% during the fourth quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock worth $1,605,539,000 after purchasing an additional 379,443 shares during the period. State Street Corp boosted its position in DTE Energy by 2.5% during the fourth quarter. State Street Corp now owns 11,078,346 shares of the utilities provider’s stock worth $1,441,776,000 after purchasing an additional 272,068 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of DTE Energy by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock worth $718,668,000 after purchasing an additional 117,322 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

DTE stock opened at $135.75 on Monday. The firm has a market cap of $28.25 billion, a PE ratio of 21.48, a P/E/G ratio of 2.95 and a beta of 0.38. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The business has a 50 day moving average of $144.97 and a 200-day moving average of $145.37. DTE Energy has a 12-month low of $126.23 and a 12-month high of $155.74.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same period last year, the business posted $1.36 earnings per share. As a group, sell-side analysts expect that DTE Energy will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is currently 73.73%.

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.