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

DTE Energy (NYSE:DTE) reached a new 52-week high during trading on Tuesday . The stock traded as high as $135.24 and last traded at $135.20, with a volume of 1082160 shares trading hands. The stock had previously closed at $133.70.

Analysts Set New Price Targets

Several research analysts recently commented on DTE shares. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Morgan Stanley dropped their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

DTE Energy Trading Up 0.1 %

The firm has a market capitalization of $27.37 billion, a PE ratio of 19.51, a PEG ratio of 2.41 and a beta of 0.68. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The business has a fifty day moving average price of $124.22 and a two-hundred day moving average price of $124.05.

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

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

Insider Transactions at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of DTE Energy by 16.0% during the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 336 shares in the last quarter. Nordea Investment Management AB raised its position in shares of DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after acquiring an additional 211,763 shares in the last quarter. Patton Albertson Miller Group LLC raised its position in shares of DTE Energy by 7.6% during the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock worth $5,667,000 after acquiring an additional 3,306 shares in the last quarter. Hancock Whitney Corp raised its position in shares of DTE Energy by 80.0% during the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after acquiring an additional 5,725 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of DTE Energy during the 3rd quarter worth about $650,000. Institutional investors and hedge funds 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.