DTE Energy Co (DTE) is Upgraded by BofA/Merrill to Buy

DTE Energy Co (DTE) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on DTE Energy Co. DTE Energy Co was Initiated by Jefferies to “Buy” on Nov 14, 2016.

On the company’s financial health, DTE Energy Co reported $1.96 EPS for the quarter, beating the analyst consensus estimate by $ 0.37 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $1.59. The company had revenue of $2928.00 million for the quarter, compared to analysts expectations of $2653.05 million. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS.

DTE Energy Co closed down -0.46 points or -0.50% at $91.22 with 8,77,234 shares getting traded on Monday. Post opening the session at $91.63, the shares hit an intraday low of $90.91 and an intraday high of $92.22 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Nov 4, 2016, DTE Energy Co announced a cash dividend of $0.8250. The company’s management has announced Dec 15, 2016 as the ex-dividend date and fixed the record date on Dec 19, 2016. The payable date has been fixed on Jan 15, 2017.

In a different news, on Aug 3, 2016, Gerard M Anderson (Chairman and CEO) sold 17,500 shares at $97.96 per share price. According to the SEC, on Jun 6, 2016, Lisa A. Muschong (Corporate Secretary) sold 1,075 shares at $92.79 per share price. On May 13, 2016, David E Meador (Vice Chairman and CAO) sold 6,700 shares at $90.14 per share price, according to the Form-4 filing with the securities and exchange commission.

DTE Energy Company (DTE) is an energy company. The Company’s other businesses are involved in natural gas pipelines gathering and storage power and industrial projects and energy marketing and trading operations. Its segments include Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading and Corporate and Other. Its utility operations consist primarily of DTE Electric and DTE Gas. The Electric segment consists of DTE Electric which is engaged in the generation purchase distribution and sale of electricity to approximately 2.1 million customers in southeastern Michigan. The Gas segment consists of DTE Gas which is engaged in the purchase storage transportation distribution and sale of natural gas to approximately 1.2 million residential commercial and industrial customers throughout Michigan and the sale of gas storage and transportation capacity. Its Corporate and Other segment includes various holding company activities.

DTE Energy Co

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