DTE Energy (NYSE:DTE) Rating Increased to Buy at Guggenheim

DTE Energy (NYSE:DTE) was upgraded by stock analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued on Thursday,Finviz reports.

A number of other brokerages have also weighed in on DTE. StockNews.com lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Barclays upped their price objective on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Jefferies Financial Group assumed coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Trading Down 3.1 %

NYSE:DTE opened at $120.08 on Thursday. The stock’s 50 day simple moving average is $121.61 and its 200-day simple moving average is $122.25. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The firm has a market cap of $24.87 billion, a P/E ratio of 16.27, a PEG ratio of 2.14 and a beta of 0.68. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76.

Institutional Trading of DTE Energy

Several institutional investors and hedge funds have recently made changes to their positions in DTE. Mizuho Securities USA LLC lifted its position in shares of DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after acquiring an additional 7,023,042 shares in the last quarter. State Street Corp increased its stake in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after purchasing an additional 662,569 shares during the last quarter. Zimmer Partners LP acquired a new position in DTE Energy in the third quarter valued at $69,894,000. Point72 Asset Management L.P. acquired a new position in DTE Energy in the third quarter valued at $66,733,000. Finally, Nordea Investment Management AB increased its stake in DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after purchasing an additional 211,763 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Company Profile

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.