DTE Energy (NYSE:DTE) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of DTE Energy (NYSE:DTE) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

DTE has been the topic of several other reports. BMO Capital Markets lifted their price target on shares of DTE Energy from $120.00 to $123.00 and gave the company a market perform rating in a report on Monday, July 15th. KeyCorp lifted their price target on shares of DTE Energy from $117.00 to $125.00 and gave the company an overweight rating in a report on Monday, May 20th. Wells Fargo & Company lifted their price target on shares of DTE Energy from $125.00 to $133.00 and gave the company an overweight rating in a report on Friday, July 26th. Barclays lifted their price target on shares of DTE Energy from $123.00 to $128.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Finally, Scotiabank decreased their price target on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $119.30.

DTE Energy Price Performance

DTE stock traded down $0.14 during mid-day trading on Friday, hitting $123.24. The stock had a trading volume of 1,256,165 shares, compared to its average volume of 1,052,048. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. DTE Energy has a 52 week low of $90.14 and a 52 week high of $126.76. The firm has a market capitalization of $25.50 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.27 and a beta of 0.66. The firm has a fifty day simple moving average of $113.72 and a 200 day simple moving average of $110.77.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the firm earned $0.99 EPS. As a group, research analysts forecast that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $1.02 dividend. The ex-dividend date is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.31%. DTE Energy’s payout ratio is 66.78%.

Insider Transactions at DTE Energy

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the sale, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares in the company, valued at $6,843,788.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The disclosure for this sale can be found here. Insiders sold a total of 14,698 shares of company stock worth $1,702,444 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ESL Trust Services LLC bought a new position in DTE Energy during the first quarter worth about $27,000. Rise Advisors LLC boosted its position in DTE Energy by 89.6% during the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares during the period. Ridgewood Investments LLC bought a new position in DTE Energy during the second quarter worth about $31,000. MV Capital Management Inc. boosted its position in DTE Energy by 104.4% during the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 143 shares during the period. Finally, Denali Advisors LLC purchased a new stake in shares of DTE Energy in the first quarter worth about $34,000. Institutional investors own 76.06% of the company’s stock.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.