DTE Energy (NYSE:DTE) Upgraded at Guggenheim

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

A number of other equities research analysts have also commented on the company. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Morgan Stanley cut their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. BMO Capital Markets increased their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Stock Down 0.4 %

DTE stock opened at $119.07 on Thursday. The firm has a market capitalization of $24.66 billion, a PE ratio of 16.13, a P/E/G ratio of 2.07 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. DTE Energy has a twelve month low of $102.50 and a twelve month high of $131.66. The stock’s 50 day moving average is $121.59 and its 200-day moving average is $122.30.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a $1.09 dividend. The ex-dividend date was Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.66%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is 59.08%.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. abrdn plc increased its stake in shares of DTE Energy by 13.9% in the fourth quarter. abrdn plc now owns 86,965 shares of the utilities provider’s stock worth $10,444,000 after purchasing an additional 10,604 shares in the last quarter. Leisure Capital Management boosted its holdings in DTE Energy by 3.1% in the 4th quarter. Leisure Capital Management now owns 8,451 shares of the utilities provider’s stock worth $1,020,000 after buying an additional 255 shares during the period. Chicago Capital LLC grew its stake in DTE Energy by 5.8% in the 4th quarter. Chicago Capital LLC now owns 4,364 shares of the utilities provider’s stock valued at $527,000 after buying an additional 240 shares in the last quarter. CENTRAL TRUST Co raised its holdings in DTE Energy by 14.1% during the 4th quarter. CENTRAL TRUST Co now owns 4,050 shares of the utilities provider’s stock valued at $489,000 after acquiring an additional 499 shares during the period. Finally, SkyOak Wealth LLC lifted its position in shares of DTE Energy by 4.1% during the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 85 shares in the last quarter. 76.06% of the stock is currently owned by 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 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.