DTE Energy (NYSE:DTE) Hits New 12-Month High – Still a Buy?

DTE Energy (NYSE:DTE)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $136.31 and last traded at $135.74, with a volume of 222527 shares traded. The stock had previously closed at $134.17.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DTE. Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets lifted their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.09.

DTE Energy Price Performance

The company has a market cap of $28.06 billion, a P/E ratio of 20.00, a PEG ratio of 2.41 and a beta of 0.59. The company has a fifty day simple moving average of $126.40 and a 200-day simple moving average of $124.62. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46.

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

DTE Energy Announces Dividend

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

Insider Activity

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock worth $1,559,205 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of DTE Energy during the third quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new position in shares of DTE Energy during the third quarter valued at about $35,000. Versant Capital Management Inc raised its position in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after buying an additional 267 shares during the last quarter. Mattson Financial Services LLC acquired a new position in shares of DTE Energy during the fourth quarter valued at about $38,000. Finally, Robbins Farley acquired a new position in shares of DTE Energy during the fourth quarter valued at about $57,000. Institutional investors and hedge funds 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.