BMO Capital Markets Increases DTE Energy (NYSE:DTE) Price Target to $123.00

DTE Energy (NYSE:DTE) had its price target boosted by BMO Capital Markets from $120.00 to $123.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 7.24% from the stock’s previous close.

A number of other equities analysts also recently commented on DTE. KeyCorp upped their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Scotiabank lowered their price objective on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Morgan Stanley cut their target price on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Finally, Barclays lifted their price target on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, DTE Energy presently has a consensus rating of “Hold” and a consensus price target of $116.78.

DTE Energy Stock Up 1.4 %

DTE stock opened at $114.70 on Monday. The company has a market cap of $23.74 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 2.09 and a beta of 0.66. The company has a fifty day moving average price of $112.83 and a 200 day moving average price of $109.97. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. DTE Energy has a 12 month low of $90.14 and a 12 month high of $117.44.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. Sell-side analysts expect that DTE Energy will post 6.69 earnings per share for the current year.

Insider Activity

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a filing with the SEC, which is available through this link. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the sale, the insider now directly owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of the business’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 transaction of $1,160,000.00. Following the completion of the transaction, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock worth $1,702,444 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DTE. Capital Research Global Investors lifted its holdings in shares of DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after acquiring an additional 261,623 shares during the period. Boston Partners raised its stake in DTE Energy by 66.8% during the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after purchasing an additional 1,018,212 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after purchasing an additional 1,756,459 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of DTE Energy by 6,964.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after buying an additional 2,060,762 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of DTE Energy by 2.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,682,067 shares of the utilities provider’s stock worth $185,465,000 after buying an additional 40,208 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.