5 Cheap Utility Stocks to Buy According to Analysts

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In this article, we discuss 5 cheap utility stocks to buy according to analysts. If you want to see more stocks in this selection, check out 12 Cheap Utility Stocks to Buy According to Analysts

5. DTE Energy Company (NYSE:DTE)

Number of Hedge Fund Holders: 34

Average Upside Potential Based on Analyst Ratings: 13.66% 

Average Price Target: $127.50

DTE Energy Company (NYSE:DTE) engages in the utility operations, operating through Electric, Gas, DTE Vantage, and Energy Trading segments. It is one of the best cheap utility stocks to invest in. On February 2, DTE Energy Company (NYSE:DTE) declared a $0.9525 per share quarterly dividend, in line with previous. The dividend is payable on April 15, to shareholders of record on March 20. 

On December 14, Neil Kalton, an analyst at Wells Fargo, increased the firm’s price target for DTE Energy Company (NYSE:DTE) from $128 to $138, to account for the rise in peer group multiples since his last assessment. Kalton maintained an Overweight rating on the shares, but his sector outlook for 2023 was less optimistic, though not negative.

According to Insider Monkey’s fourth quarter database, 34 hedge funds were bullish on DTE Energy Company (NYSE:DTE), compared to 30 funds in the prior quarter. Ken Griffin’s Citadel Investment Group held the biggest stakeholder of the company, with 1.7 million shares worth approximately $202 million. 

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