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 released on Thursday, Marketbeat.com reports.

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

DTE Energy Stock Performance

NYSE:DTE opened at $119.07 on Thursday. The stock’s 50-day moving average is $121.59 and its 200-day moving average is $122.30. DTE Energy has a 1-year low of $102.50 and a 1-year high of $131.66. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The stock has a market cap of $24.66 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68.

DTE Energy Increases Dividend

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

Institutional Investors Weigh In On DTE Energy

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