DTE Energy (NYSE:DTE) Hits New 1-Year High – What’s Next?

DTE Energy (NYSE:DTE) shares hit a new 52-week high on Monday . The stock traded as high as $139.05 and last traded at $137.63, with a volume of 43733 shares changing hands. The stock had previously closed at $136.57.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DTE shares. Scotiabank boosted their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. BMO Capital Markets boosted their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley increased their price objective on DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Guggenheim upped their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.58.

DTE Energy Stock Performance

The business’s fifty day moving average is $129.42 and its 200-day moving average is $125.44. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The company has a market cap of $28.63 billion, a PE ratio of 20.38, a P/E/G ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. As a group, research analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Buying and Selling

In related news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.33% of the company’s stock.

Institutional Trading of DTE Energy

Hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. boosted its holdings in shares of DTE Energy by 2.4% in the 3rd quarter. D.A. Davidson & CO. now owns 5,037 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 119 shares during the period. FMR LLC boosted its stake in DTE Energy by 6.1% during the third quarter. FMR LLC now owns 342,608 shares of the utilities provider’s stock worth $43,994,000 after buying an additional 19,678 shares during the period. Townsquare Capital LLC increased its position in DTE Energy by 10.1% during the third quarter. Townsquare Capital LLC now owns 8,831 shares of the utilities provider’s stock valued at $1,134,000 after acquiring an additional 810 shares during the last quarter. Edgestream Partners L.P. raised its stake in shares of DTE Energy by 124.4% in the third quarter. Edgestream Partners L.P. now owns 11,637 shares of the utilities provider’s stock valued at $1,494,000 after acquiring an additional 6,452 shares during the period. Finally, Atom Investors LP lifted its holdings in shares of DTE Energy by 33.2% in the 3rd quarter. Atom Investors LP now owns 2,540 shares of the utilities provider’s stock worth $326,000 after acquiring an additional 633 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other 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 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.