DTE Energy (NYSE:DTE) Upgraded to “Buy” at Guggenheim

Guggenheim upgraded shares of DTE Energy (NYSE:DTE) from a neutral rating to a buy rating in a report released on Thursday, MarketBeat reports.

Several other research analysts also recently commented on DTE. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Barclays boosted their price objective on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Scotiabank raised their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. StockNews.com downgraded DTE Energy from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company increased their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Stock Down 0.6 %

Shares of DTE Energy stock opened at $119.51 on Thursday. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The stock has a market capitalization of $24.75 billion, a P/E ratio of 16.19, a PEG ratio of 2.14 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The stock has a 50 day moving average price of $121.61 and a two-hundred day moving average price of $122.25.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a dividend of $1.09 per share. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Monday, December 16th. DTE Energy’s payout ratio is 59.08%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in shares of DTE Energy in the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in DTE Energy in the 3rd quarter valued at $35,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy in the 3rd quarter valued at $35,000. Versant Capital Management Inc grew its position in DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the period. Finally, Coastline Trust Co acquired a new position in DTE Energy during the third quarter worth $39,000. 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.