DTE Energy Co. (NYSE:DTE) – Investment analysts at KeyCorp boosted their FY2016 earnings per share (EPS) estimates for DTE Energy in a report released on Tuesday. KeyCorp analyst P. Ridzon now anticipates that the brokerage will post earnings per share of $5.25 for the year, up from their prior forecast of $5.05. KeyCorp currently has a “Buy” rating and a $105.00 target price on the stock.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year.
DTE has been the subject of several other reports. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Barclays PLC reiterated a “buy” rating and set a $108.00 price objective on shares of DTE Energy in a research note on Thursday, July 28th. Macquarie increased their price objective on DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, BMO Capital Markets reiterated a “hold” rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. DTE Energy presently has an average rating of “Buy” and a consensus price target of $103.20.
Shares of DTE Energy (NYSE:DTE) opened at 93.67 on Thursday. DTE Energy has a 1-year low of $77.35 and a 1-year high of $100.45. The firm has a market capitalization of $16.81 billion, a PE ratio of 22.62 and a beta of 0.26. The firm’s 50 day moving average is $94.14 and its 200 day moving average is $92.98.
In other news, Chairman Gerard M. Anderson sold 17,500 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the sale, the chairman now owns 77,500 shares in the company, valued at $7,591,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.93% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of DTE Energy during the second quarter valued at approximately $30,302,000. Legal & General Group Plc boosted its position in DTE Energy by 0.7% in the first quarter. Legal & General Group Plc now owns 923,490 shares of the company’s stock valued at $83,723,000 after buying an additional 6,794 shares in the last quarter. Capstone Asset Management Co. boosted its position 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. Geode Capital Management LLC boosted its position in DTE Energy by 2.0% in the first quarter. Geode Capital Management LLC now owns 1,472,427 shares of the company’s stock valued at $133,224,000 after buying an additional 28,200 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new position in DTE Energy during the second quarter valued at about $12,033,000. Institutional investors own 65.25% of the company’s stock.
DTE Energy Company Profile
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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