DTE Energy (NYSE:DTE) Hits New 12-Month High – Time to Buy?

DTE Energy (NYSE:DTE)’s stock price hit a new 52-week high on Thursday . The company traded as high as $131.84 and last traded at $131.41, with a volume of 772460 shares. The stock had previously closed at $130.38.

Analysts Set New Price Targets

Several brokerages recently issued reports on DTE. Wells Fargo & Company raised 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. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. 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. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Morgan Stanley lowered their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.67.

DTE Energy Stock Up 0.6 %

The stock has a fifty day moving average of $122.15 and a 200-day moving average of $123.36. The firm has a market capitalization of $27.35 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.41 and a beta of 0.68. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Buying and Selling at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were 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 in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds have recently added to or reduced their stakes in DTE. Sequoia Financial Advisors LLC raised its holdings in shares of DTE Energy by 21.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,719 shares of the utilities provider’s stock valued at $2,018,000 after purchasing an additional 2,726 shares in the last quarter. Signaturefd LLC raised its holdings in DTE Energy by 3.1% during the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock valued at $371,000 after buying an additional 86 shares in the last quarter. Eastern Bank acquired a new stake in shares of DTE Energy in the third quarter worth about $175,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of DTE Energy by 25.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,903 shares of the utilities provider’s stock worth $1,657,000 after buying an additional 2,624 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of DTE Energy by 2.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,550 shares of the utilities provider’s stock valued at $841,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

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.