Mizuho Raises DTE Energy (NYSE:DTE) Price Target to $133.00

DTE Energy (NYSE:DTE) had its price target raised by Mizuho from $121.00 to $133.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

A number of other brokerages also recently weighed in on DTE. Bank of America raised their target price on DTE Energy from $131.00 to $136.00 and gave the company a buy rating in a report on Thursday, August 29th. Scotiabank lifted their target price on DTE Energy from $120.00 to $137.00 and gave the stock a sector outperform rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price objective on DTE Energy from $114.00 to $121.00 and gave the stock an overweight rating in a research report on Friday, August 23rd. LADENBURG THALM/SH SH started coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a buy rating and a $131.00 target price for the company. Finally, BMO Capital Markets boosted their target price on DTE Energy from $126.00 to $135.00 and gave the stock a market perform rating in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, DTE Energy currently has a consensus rating of Moderate Buy and a consensus target price of $127.17.

DTE Energy Stock Performance

Shares of NYSE DTE opened at $124.51 on Tuesday. The stock has a 50 day moving average price of $120.08 and a 200 day moving average price of $114.26. DTE Energy has a 52 week low of $90.14 and a 52 week high of $127.59. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a market capitalization of $25.77 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same period last year, the firm posted $0.99 earnings per share. Analysts predict that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $1.02 per share. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.28%. DTE Energy’s dividend payout ratio is presently 66.78%.

Institutional Investors Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DTE. ESL Trust Services LLC acquired a new position in shares of DTE Energy in the 1st quarter valued at $27,000. Rise Advisors LLC grew its position in shares of DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 129 shares during the period. Ridgewood Investments LLC purchased a new position in DTE Energy in the 2nd quarter valued at about $31,000. Denali Advisors LLC purchased a new position in DTE Energy in the 1st quarter valued at about $34,000. Finally, Salomon & Ludwin LLC lifted its stake in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after buying an additional 195 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.