DTE Energy (NYSE:DTE) Cut to Sector Weight at KeyCorp

KeyCorp downgraded shares of DTE Energy (NYSE:DTE - Free Report) from an overweight rating to a sector weight rating in a research report report published on Wednesday morning, Marketbeat Ratings reports.

Several other research firms have also issued reports on DTE. LADENBURG THALM/SH SH assumed coverage on shares of DTE Energy in a report on Wednesday, August 14th. They set a "buy" rating and a $131.00 target price for the company. Scotiabank boosted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 20th. Morgan Stanley decreased their price objective on shares of DTE Energy from $131.00 to $128.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Mizuho boosted their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, UBS Group upgraded shares of 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 report on Tuesday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.29.

DTE Energy Stock Down 0.6 %

Shares of DTE stock traded down $0.69 during trading hours on Wednesday, hitting $122.29. 1,046,807 shares of the company's stock traded hands, compared to its average volume of 1,121,636. The stock's fifty day simple moving average is $124.63 and its two-hundred day simple moving average is $120.15. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The stock has a market cap of $25.33 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 2.28 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.09 per share. This is an increase from DTE Energy's previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.57%. DTE Energy's payout ratio is presently 55.28%.

Institutional Investors Weigh In On DTE Energy

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC grew its holdings in DTE Energy by 2.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider's stock valued at $461,000 after purchasing an additional 81 shares during the last quarter. Signaturefd LLC boosted its stake in shares of 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 purchasing an additional 86 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in DTE Energy by 3.7% during the second quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider's stock valued at $292,000 after acquiring an additional 94 shares during the last quarter. Tidal Investments LLC lifted its position in DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider's stock valued at $320,000 after acquiring an additional 96 shares during the last quarter. Finally, ASB Consultores LLC lifted its position in DTE Energy by 4.9% during the second quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider's stock valued at $242,000 after acquiring an additional 101 shares during the last quarter. 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.