DTE Energy (NYSE:DTE) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of DTE Energy (NYSE:DTE) in a report released on Monday morning, MarketBeat.com reports. The firm issued a hold rating and a $137.00 price objective on the utilities provider’s stock.

A number of other brokerages have also weighed in on DTE. Morgan Stanley raised their price objective on DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Bank of America increased their target price on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Scotiabank boosted their price target on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Mizuho upped their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $130.54.

DTE Energy Trading Up 1.4 %

Shares of DTE opened at $129.99 on Monday. The firm has a market cap of $26.90 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. DTE Energy has a 1 year low of $92.58 and a 1 year high of $130.04. The company has a 50 day simple moving average of $125.52 and a two-hundred day simple moving average of $117.67.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period last year, the company posted $0.99 earnings per share. On average, equities analysts expect that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Institutional Trading of DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Janus Henderson Group PLC grew its stake in shares of DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after buying an additional 2,060,762 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in DTE Energy by 224.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after acquiring an additional 1,756,459 shares during the period. Capital Research Global Investors grew its position in DTE Energy by 1.2% in the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock valued at $2,376,768,000 after acquiring an additional 261,623 shares during the last quarter. Millennium Management LLC increased its stake in DTE Energy by 42.4% in the second quarter. Millennium Management LLC now owns 543,299 shares of the utilities provider’s stock worth $60,312,000 after purchasing an additional 161,776 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in shares of DTE Energy by 133.2% during the second quarter. Panagora Asset Management Inc. now owns 248,151 shares of the utilities provider’s stock worth $27,547,000 after purchasing an additional 141,718 shares during the last quarter. 76.06% of the stock is 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.