DTE Energy (DTE) Rating Reiterated by Credit Suisse Group
DTE Energy (NYSE:DTE)‘s stock had its “neutral” rating reiterated by investment analysts at Credit Suisse Group in a note issued to investors on Tuesday. They presently have a $107.00 target price on the utilities provider’s stock, up from their prior target price of $106.00. Credit Suisse Group’s price objective would indicate a potential upside of 5.00% from the stock’s previous close.
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a report on Monday, January 15th. Guggenheim reiterated a “buy” rating and set a $121.00 price target on shares of DTE Energy in a report on Wednesday, January 3rd. KeyCorp restated a “buy” rating and issued a $118.50 target price on shares of DTE Energy in a research note on Friday, December 15th. UBS Group began coverage on DTE Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $108.00 target price for the company. Finally, Wells Fargo & Co upgraded DTE Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $112.45.
DTE Energy (NYSE DTE) opened at $101.90 on Tuesday. DTE Energy has a 1-year low of $97.66 and a 1-year high of $116.74. The company has a market capitalization of $18,280.00, a P/E ratio of 16.10, a PEG ratio of 3.03 and a beta of 0.14. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 1.20.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its stake in shares of DTE Energy by 3.2% in the third quarter. Parametric Portfolio Associates LLC now owns 494,752 shares of the utilities provider’s stock valued at $53,117,000 after purchasing an additional 15,317 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of DTE Energy by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 737,342 shares of the utilities provider’s stock valued at $79,382,000 after purchasing an additional 16,125 shares in the last quarter. FDO Partners LLC acquired a new position in shares of DTE Energy in the third quarter valued at $1,771,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in DTE Energy by 5.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,187 shares of the utilities provider’s stock valued at $3,026,000 after acquiring an additional 1,425 shares during the period. Finally, Vident Investment Advisory LLC bought a new stake in DTE Energy in the third quarter valued at $411,000. Institutional investors and hedge funds own 68.30% of the company’s stock.
DTE Energy Company Profile
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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