DTE Energy (NYSE:DTE) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of DTE Energy (NYSE:DTE) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets lifted their price target on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Jefferies Financial Group initiated coverage on DTE Energy in a research report on Monday, October 21st. They issued a “hold” rating and a $137.00 price target on the stock. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their target price on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

DTE Energy Stock Performance

DTE opened at $119.07 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The company has a market cap of $24.66 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68. The stock has a 50-day moving average of $121.59 and a 200-day moving average of $122.39. DTE Energy has a 52-week low of $102.50 and a 52-week high of $131.66.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.66%. The ex-dividend date was Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s payout ratio is 59.08%.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy in the 3rd quarter valued at $30,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy in the third quarter valued at approximately $35,000. Ashton Thomas Securities LLC bought a new stake in DTE Energy during the 3rd quarter worth approximately $35,000. Versant Capital Management Inc increased its holdings in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares in the last quarter. Finally, Coastline Trust Co bought a new position in DTE Energy in the 3rd quarter valued at $39,000. 76.06% of the stock is owned by 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.