DTE Energy (DTE) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of DTE Energy (NYSE:DTE) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Shares of DTE Energy have outperformed its industry in tha last one year.  DTE Energy is investing steadily to enhance its renewable generation assets. Currently, management is targeting an annual dividend increase of about 7% through 2019. The company’s effort to maximize shareholder value is expected to attract investors. However, DTE Energy faces increasingly stringent government regulations for curbing emissions and operational risks, that remains a major concern. Environmental compliance requires more investments in the installation of low-emission systems at its generation facilities, which have an adverse impact on its margins. To comply with these requirements, DTE Electric spent approximately $2.4 billion through 2017.”

Several other equities research analysts also recently commented on the stock. Citigroup lifted their price objective on shares of DTE Energy from $103.00 to $110.00 and gave the stock a hold rating in a research note on Monday, September 10th. Wells Fargo & Co downgraded shares of DTE Energy from an outperform rating to a market perform rating and lowered their price objective for the stock from $109.27 to $103.00 in a research note on Monday, June 11th. Barclays initiated coverage on shares of DTE Energy in a research note on Wednesday, August 15th. They set an equal weight rating and a $116.00 price objective for the company. Guggenheim reiterated a buy rating and set a $114.00 price objective on shares of DTE Energy in a research note on Monday, July 23rd. Finally, Scotiabank initiated coverage on shares of DTE Energy in a research note on Tuesday, July 24th. They set a buy rating and a $115.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $113.36.

Shares of DTE opened at $107.49 on Tuesday. The company has a market capitalization of $19.72 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 3.31 and a beta of 0.10. DTE Energy has a twelve month low of $94.25 and a twelve month high of $116.74. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.16 and a quick ratio of 0.89.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.23. DTE Energy had a net margin of 8.58% and a return on equity of 10.63%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. equities analysts predict that DTE Energy will post 6.16 earnings per share for the current fiscal year.

In related news, VP Lisa A. Muschong sold 426 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $107.49, for a total transaction of $45,790.74. Following the completion of the transaction, the vice president now owns 2,250 shares of the company’s stock, valued at $241,852.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Gerard M. Anderson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $110.18, for a total transaction of $1,101,800.00. Following the transaction, the chairman now directly owns 84,858 shares of the company’s stock, valued at approximately $9,349,654.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,226 shares of company stock valued at $1,674,057. 0.59% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of DTE. Millennium Management LLC raised its holdings in shares of DTE Energy by 210.7% during the first quarter. Millennium Management LLC now owns 1,548,620 shares of the utilities provider’s stock worth $161,676,000 after purchasing an additional 1,050,142 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of DTE Energy by 50.6% during the first quarter. Royal Bank of Canada now owns 1,230,529 shares of the utilities provider’s stock worth $128,466,000 after purchasing an additional 413,636 shares during the last quarter. Centenus Global Management LP raised its holdings in shares of DTE Energy by 1,530.0% during the first quarter. Centenus Global Management LP now owns 163,000 shares of the utilities provider’s stock worth $17,017,000 after purchasing an additional 153,000 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in DTE Energy by 203.1% in the second quarter. Canada Pension Plan Investment Board now owns 213,110 shares of the utilities provider’s stock valued at $22,085,000 after buying an additional 142,800 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in DTE Energy by 8.7% in the second quarter. Legal & General Group Plc now owns 1,744,677 shares of the utilities provider’s stock valued at $180,833,000 after buying an additional 139,879 shares in the last quarter. 70.89% 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 approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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