DTE Energy (NYSE:DTE) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

DTE Energy (NYSE:DTE) had its target price raised by BMO Capital Markets from $125.00 to $135.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the utilities provider’s stock.

A number of other research firms also recently commented on DTE. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Scotiabank boosted their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. StockNews.com downgraded DTE Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Jefferies Financial Group started coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Finally, Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $135.67.

DTE Energy Trading Up 0.5 %

Shares of DTE stock opened at $131.07 on Tuesday. The business’s fifty day moving average price is $121.93 and its 200 day moving average price is $123.27. DTE Energy has a 1-year low of $103.06 and a 1-year high of $131.84. The firm has a market capitalization of $27.16 billion, a PE ratio of 19.36, a P/E/G ratio of 2.38 and a beta of 0.68. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, sell-side analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.33%. DTE Energy’s payout ratio is currently 64.40%.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

Several institutional investors have recently added to or reduced their stakes in DTE. Legacy Investment Solutions LLC acquired a new position in DTE Energy in the third quarter valued at $30,000. Ashton Thomas Securities LLC acquired a new stake in DTE Energy during the third quarter worth about $35,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy during the third quarter worth about $35,000. Versant Capital Management Inc increased its stake in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 267 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in DTE Energy during the third quarter worth about $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Company Profile

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.