DTE Energy (NYSE:DTE) Given New $111.00 Price Target at Morgan Stanley

DTE Energy (NYSE:DTE) had its price objective lowered by Morgan Stanley from $116.00 to $111.00 in a research note published on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

Several other research analysts have also recently issued reports on DTE. BMO Capital Markets upped their price objective on DTE Energy from $111.00 to $113.00 and gave the stock a market perform rating in a research report on Wednesday, April 17th. Scotiabank dropped their price target on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, March 13th. TheStreet raised shares of DTE Energy from a c+ rating to a b- rating in a research report on Friday, March 15th. Finally, Barclays boosted their price target on shares of DTE Energy from $115.00 to $119.00 and gave the company an overweight rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $115.67.

DTE Energy Price Performance

Shares of NYSE DTE opened at $110.53 on Monday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The company has a market cap of $22.87 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.67. The stock’s 50-day moving average is $112.71 and its two-hundred day moving average is $109.93. DTE Energy has a 1-year low of $90.14 and a 1-year high of $117.44.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Analysts forecast that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio is presently 66.78%.

Insider Buying and Selling at DTE Energy

In other news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at $4,862,836. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,698 shares of company stock valued at $1,702,444. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. PBMares Wealth Management LLC boosted its holdings in DTE Energy by 4.5% in the 4th quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 100 shares during the period. Center for Financial Planning Inc. increased its stake in DTE Energy by 2.2% during the 1st quarter. Center for Financial Planning Inc. now owns 4,972 shares of the utilities provider’s stock worth $558,000 after buying an additional 105 shares during the period. TIAA Trust National Association lifted its holdings in DTE Energy by 2.9% in the 1st quarter. TIAA Trust National Association now owns 3,771 shares of the utilities provider’s stock worth $423,000 after buying an additional 106 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in DTE Energy by 0.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 41,908 shares of the utilities provider’s stock valued at $4,700,000 after buying an additional 107 shares during the last quarter. Finally, ASB Consultores LLC increased its position in shares of DTE Energy by 5.6% during the third quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

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.