DTE (DTE) Sees Less Upside With Shares Looking Lofty
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Shares of DTE Energy Co. (NYSE: DTE) continue to grow following an upgrade from Credit Suisse back on December 19 and general sector strength. Shares closed at $51.44 on December 16th and have since set a new 52-week high. Shares are currently up 6.7 percent since the firm upgraded its rating on the Stock to Outperform. Shares of DTE are also up 21.2 percent on the year.
Utilities have been a "hot" sector as investors look for strong and stable dividends and stocks prices. DTE offers a 4.3 percent dividend yield.
After paying my DTE bill, I would not be surprised to hear that the company posted 'record' sales for the upcoming quarter, but I would be less surprised to hear the company missed expectations due to the warmer weather this season.
While higher Thursday, the stock is lagging the boarder market. Shares are only trading up 0.44 percent on the day to $54.88, which may be an indication that investors are beginning to feel the stock and sector may be overbought. The Dow is up 0.85 percent and the S&P 500 is up 0.7 percent.
Still the company offers a better P/E then others in the sector. DTE has a forward P/E of 13x, while Duke Energy (NYSE: DUK) sits at 15x, Consolidated Edison Inc. (NYSE: ED) is at 17x, and Southern Company (NYSE: SO) is at 17x.
Utilities have been a "hot" sector as investors look for strong and stable dividends and stocks prices. DTE offers a 4.3 percent dividend yield.
After paying my DTE bill, I would not be surprised to hear that the company posted 'record' sales for the upcoming quarter, but I would be less surprised to hear the company missed expectations due to the warmer weather this season.
While higher Thursday, the stock is lagging the boarder market. Shares are only trading up 0.44 percent on the day to $54.88, which may be an indication that investors are beginning to feel the stock and sector may be overbought. The Dow is up 0.85 percent and the S&P 500 is up 0.7 percent.
Still the company offers a better P/E then others in the sector. DTE has a forward P/E of 13x, while Duke Energy (NYSE: DUK) sits at 15x, Consolidated Edison Inc. (NYSE: ED) is at 17x, and Southern Company (NYSE: SO) is at 17x.
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