DTE Energy (NYSE:DTE) Hits New 52-Week High - Time to Buy?

DTE Energy (NYSE:DTE - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $139.05 and last traded at $137.63, with a volume of 43733 shares traded. The stock had previously closed at $136.57.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Guggenheim upped their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Scotiabank boosted their price target on DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a report on Thursday, December 12th. Finally, Morgan Stanley lifted their price objective on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $138.58.

Remove Ads

DTE Energy Trading Down 5.0 %

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 business has a 50 day simple moving average of $130.18 and a 200-day simple moving average of $125.62. The stock has a market capitalization of $27.49 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.29%. DTE Energy's dividend payout ratio is currently 64.40%.

Insider Buying and Selling

In other news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares of the company's stock, valued at $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,877 shares of company stock worth $1,559,205. Corporate insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DTE. Capital World Investors grew its stake in shares of DTE Energy by 123.2% in the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock valued at $823,905,000 after purchasing an additional 3,766,221 shares during the period. Vanguard Group Inc. raised its position in DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock worth $3,053,330,000 after purchasing an additional 879,670 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock worth $111,159,000 after buying an additional 871,978 shares in the last quarter. AQR Capital Management LLC boosted its position in DTE Energy by 750.0% in the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock valued at $116,482,000 after buying an additional 851,169 shares during the last quarter. Finally, Invesco Ltd. increased its position in DTE Energy by 50.2% in the fourth quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider's stock worth $297,358,000 after purchasing an additional 822,854 shares during the period. 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.