DTE Energy (NYSE:DTE) Given New $130.00 Price Target at KeyCorp

DTE Energy (NYSE:DTE) had its price objective boosted by KeyCorp from $126.00 to $130.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other research firms also recently issued reports on DTE. Mizuho lifted their target price on DTE Energy from $121.00 to $133.00 and gave the company an outperform rating in a research report on Tuesday, September 10th. Wells Fargo & Company lifted their price target on DTE Energy from $125.00 to $133.00 and gave the stock an overweight rating in a report on Friday, July 26th. Barclays lifted their price target on DTE Energy from $123.00 to $128.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. BMO Capital Markets lifted their price target on DTE Energy from $126.00 to $135.00 and gave the stock a market perform rating in a report on Friday, September 6th. Finally, Morgan Stanley lifted their price target on DTE Energy from $114.00 to $121.00 and gave the stock an overweight rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $127.58.

DTE Energy Price Performance

NYSE:DTE opened at $126.35 on Monday. 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’s 50-day simple moving average is $120.75 and its 200 day simple moving average is $114.62. The company has a market cap of $26.15 billion, a P/E ratio of 20.68, a P/E/G ratio of 2.28 and a beta of 0.67. DTE Energy has a 52-week low of $90.14 and a 52-week high of $127.59.

DTE Energy (NYSE:DTE) last released its earnings results 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 business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter in the previous year, the business earned $0.99 earnings per share. As a group, sell-side analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is presently 66.78%.

Institutional Investors Weigh In On DTE Energy

Institutional investors have recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in shares of DTE Energy in the fourth quarter valued at approximately $54,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of DTE Energy by 5.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,003 shares of the utilities provider’s stock valued at $331,000 after buying an additional 157 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of DTE Energy by 13.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,866 shares of the utilities provider’s stock valued at $206,000 after buying an additional 227 shares during the period. Kentucky Retirement Systems boosted its stake in shares of DTE Energy by 4.7% in the fourth quarter. Kentucky Retirement Systems now owns 16,496 shares of the utilities provider’s stock valued at $1,819,000 after buying an additional 738 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of DTE Energy by 4.4% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,345 shares of the utilities provider’s stock valued at $810,000 after buying an additional 310 shares during the period. 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.