“We see these assets as attractive strategically given their location, contracts, diversified list of customers, potential for expansion and interconnection with DTE’s existing systems,” analyst Andrew Weisel wrote in a note.”We estimate these deals will add US$0.04/sh (+0.8 percent) in ’17 and US$0.15/sh (+2.3 percent) by ’20, ahead of DTE guidance of US$0.10. We assume a 50/50 debt/equity mix, 12 percent IRR and 10 percent annual growth,,” Macquarie’s analyst wrote.
Several other equities analysts have also recently issued reports on the stock. KeyCorp restated an outperform rating and set a $102.50 target price (up previously from $97.00) on shares of DTE Energy in a research note on Saturday, July 2nd. Zacks Investment Research lowered shares of DTE Energy from a buy rating to a hold rating in a research report on Monday, July 25th. Barclays PLC reaffirmed a buy rating and set a $108.00 price target on shares of DTE Energy in a research report on Thursday, July 28th. Finally, BMO Capital Markets reaffirmed a hold rating on shares of DTE Energy in a research report on Wednesday, June 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $103.20.
DTE Energy (NYSE:DTE) opened at 95.07 on Tuesday. The firm has a 50 day moving average of $94.28 and a 200-day moving average of $92.93. DTE Energy has a 1-year low of $77.35 and a 1-year high of $100.45. The company has a market capitalization of $17.06 billion, a price-to-earnings ratio of 22.96 and a beta of 0.26.
DTE Energy (NYSE:DTE) last posted its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. On average, equities research analysts anticipate that DTE Energy will post $5.07 earnings per share for the current fiscal year.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $97.96, for a total value of $1,714,300.00. Following the completion of the sale, the chairman now directly owns 77,500 shares of the company’s stock, valued at approximately $7,591,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Capstone Asset Management Co. raised its stake in DTE Energy by 1.7% in the first quarter. Capstone Asset Management Co. now owns 23,014 shares of the company’s stock valued at $2,086,000 after buying an additional 390 shares in the last quarter. Glenmede Trust Co. NA raised its stake in DTE Energy by 8.0% in the first quarter. Glenmede Trust Co. NA now owns 76,572 shares of the company’s stock valued at $6,941,000 after buying an additional 5,677 shares in the last quarter. Aperio Group LLC raised its stake in DTE Energy by 2.6% in the first quarter. Aperio Group LLC now owns 77,198 shares of the company’s stock valued at $6,999,000 after buying an additional 1,984 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in DTE Energy during the first quarter valued at about $354,000. Finally, Virginia Retirement System purchased a new stake in DTE Energy during the first quarter valued at about $880,000. 65.25% of the stock is owned by institutional investors.
About DTE Energy
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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