DTE Energy Co. (NYSE: DTE) shares rose on Friday January 20 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, U.S. stocks rose Friday morning as Wall Street closely awaited Donald Trump’s inauguration as the nation’s 45th president.
The Dow Jones Industrial Average DJIA, +0.41% rose 95 points, or 0.5%, to 19,826, while the S&P 500 index SPX, +0.41% climbed 11 points, or 0.5%, to 2,275 and the Nasdaq Composite COMP, +0.37% added 28 points, or 0.6%, to 5,571.
DTE Energy Co. (NYSE: DTE) had its price target increased by equities researchers at Barclays PLC from $0.00 to $106.00. With a rating of on the stock, DTE Energy Co. has a 52-week high of $100.45. A number of other analysts have commented on the company in recent days, and DTE Energy Co. has earned a consensus one-year price target of $101.42, above the opening price of $98.47, a difference of 10.25 percent.
Yesterday DTE Energy Co. (NYSE: DTE) shares last traded at $98.90, which represents a jump of $0.76 compared to the previous closing price. Opening at $98.47, they varied from $98.28 and $98.93 throughout the day.
DTE Energy Co. (NYSE: DTE) currently has a market cap of 17.75B.
DTE Energy Co. (NYSE: DTE) Average Daily Trading Volume
The stock’s average daily volume is 1,037,640 shares out of a total float 178,471,000 and some 158,917 shares traded hands yesterday, 1 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are considering.
DTE Energy Co. (NYSE: DTE) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, DTE Energy Co. (NYSE: DTE) now has a 50-day MA of $97.75 and 200-day MA of $95.36. It has traded in a 52-week range between $79.38 – 100.45 and today’s last price is 1.54%% lower than the 52 week high of $100.45.
Earnings growth is an important factor to research when buying stocks and investors identify companies that have increased their earnings at least 25% or more over a 3 year period.
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