DTE Energy (NYSE:DTE) Reaches New 12-Month High – Should You Buy?

DTE Energy (NYSE:DTE)’s share price 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. The stock had previously closed at $133.70.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of recent research reports. Scotiabank increased their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Morgan Stanley cut their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets raised their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.67.

DTE Energy Trading Up 1.1 %

The stock has a 50 day moving average price of $123.77 and a 200-day moving average price of $123.93. 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 stock has a market capitalization of $28.02 billion, a PE ratio of 19.97, a P/E/G ratio of 2.41 and a beta of 0.68.

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

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.22%. DTE Energy’s payout ratio is currently 64.40%.

Insider Transactions at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock valued at $1,559,205 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

Several hedge funds have recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new stake in DTE Energy in the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at about $35,000. Prospera Private Wealth LLC purchased a new position in shares of DTE Energy during the third quarter valued at about $35,000. Versant Capital Management Inc increased its holdings in shares of DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in shares of DTE Energy in the third quarter worth about $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

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.