DTE Energy (NYSE:DTE) Price Target Raised to $135.00

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

Several other equities analysts have also recently issued reports on the company. Morgan Stanley decreased their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company lifted their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, 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 note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.67.

DTE Energy Stock Performance

NYSE DTE opened at $131.07 on Tuesday. The company has a market cap of $27.16 billion, a P/E 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. The stock has a 50-day moving average of $121.93 and a two-hundred day moving average of $123.27. DTE Energy has a 1-year low of $103.06 and a 1-year high of $131.84.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

Insiders Place Their Bets

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction that occurred 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 directly owns 6,951 shares in the company, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of DTE Energy by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock valued at $3,053,330,000 after purchasing an additional 879,670 shares during the period. State Street Corp increased its holdings in shares of DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after purchasing an additional 662,569 shares during the period. Mizuho Securities USA LLC increased its holdings in shares of DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after purchasing an additional 7,023,042 shares during the period. Capital World Investors increased its holdings in shares of DTE Energy by 123.2% in the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock valued at $823,905,000 after purchasing an additional 3,766,221 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of DTE Energy by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider’s stock valued at $592,642,000 after purchasing an additional 115,270 shares during the period. Institutional investors and hedge funds 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.