DTE Energy (NYSE:DTE) Price Target Raised to $137.00

DTE Energy (NYSE:DTE) had its price target raised by Scotiabank from $120.00 to $137.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a sector outperform rating on the utilities provider’s stock.

Several other equities analysts have also commented on the company. KeyCorp upped their price target on DTE Energy from $117.00 to $125.00 and gave the company an overweight rating in a research note on Monday, May 20th. Barclays upped their price target on DTE Energy from $123.00 to $128.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Morgan Stanley decreased their price target on DTE Energy from $116.00 to $111.00 and set an overweight rating on the stock in a research note on Monday, June 24th. LADENBURG THALM/SH SH started coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a buy rating and a $131.00 price target on the stock. Finally, StockNews.com raised DTE Energy from a sell rating to a hold rating in a research note on Sunday, August 11th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $122.82.

DTE Energy Stock Up 0.4 %

Shares of NYSE:DTE opened at $123.82 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The business has a fifty day moving average of $116.10 and a two-hundred day moving average of $112.49. The stock has a market cap of $25.62 billion, a P/E ratio of 20.27, a PEG ratio of 2.27 and a beta of 0.66. DTE Energy has a 52-week low of $90.14 and a 52-week high of $126.76.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the business earned $0.99 EPS. On average, research analysts expect that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. In other news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following the transaction, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Capital Research Global Investors increased its holdings in shares of DTE Energy by 1.2% in the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock valued at $2,376,768,000 after acquiring an additional 261,623 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of DTE Energy by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after acquiring an additional 86,205 shares during the last quarter. Boston Partners grew its stake in DTE Energy by 66.8% during the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after buying an additional 1,018,212 shares during the last quarter. Clearbridge Investments LLC grew its stake in DTE Energy by 224.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after buying an additional 1,756,459 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in 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. 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.