DTE Energy (NYSE:DTE) Hits New 12-Month High - Here's Why

DTE Energy (NYSE:DTE - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $136.31 and last traded at $135.74, with a volume of 222527 shares changing hands. The stock had previously closed at $134.17.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Morgan Stanley lifted their price target on DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a report on Friday, February 21st. KeyCorp lowered shares of DTE Energy from an "overweight" rating to a "sector weight" rating in a report on Wednesday, December 4th. Finally, UBS Group raised shares of DTE Energy from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, DTE Energy currently has an average rating of "Moderate Buy" and a consensus price target of $138.58.

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DTE Energy Price Performance

The company has a market capitalization of $28.43 billion, a PE ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a 50 day moving average price of $127.02 and a two-hundred day moving average price of $124.79.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Equities analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently announced 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 3.18%. The ex-dividend date is Monday, March 17th. DTE Energy's payout ratio is 64.40%.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction that occurred 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 owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction that occurred 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 directly owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % 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 over the last three months. Corporate insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On DTE Energy

A number of 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 3rd quarter worth about $30,000. Prospera Private Wealth LLC bought a new position in DTE Energy in the 3rd quarter worth approximately $35,000. Mattson Financial Services LLC acquired a new position in shares of DTE Energy during the fourth quarter worth approximately $38,000. Versant Capital Management Inc boosted its position in shares of DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 267 shares during the period. Finally, Robbins Farley acquired a new stake in shares of DTE Energy in the fourth quarter worth $57,000. 76.06% of the stock is currently owned by institutional investors.

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.