DTE Energy (NYSE:DTE) Price Target Raised to $119.00

DTE Energy (NYSE:DTE) had its price objective lifted by Barclays from $115.00 to $119.00 in a report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

DTE has been the subject of a number of other research reports. Guggenheim lowered shares of DTE Energy from a buy rating to a neutral rating and set a $111.00 target price for the company. in a research report on Monday, January 22nd. Scotiabank lowered their target price on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. BMO Capital Markets raised their price target on DTE Energy from $111.00 to $113.00 and gave the stock a market perform rating in a report on Wednesday, April 17th. Wolfe Research lowered DTE Energy from an outperform rating to a peer perform rating in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. raised their target price on DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of Moderate Buy and an average price target of $115.50.

DTE Energy Trading Up 0.8 %

Shares of DTE stock opened at $112.80 on Tuesday. DTE Energy has a 12-month low of $90.14 and a 12-month high of $116.73. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. The company has a 50 day moving average of $109.41 and a 200-day moving average of $106.53. The firm has a market cap of $23.34 billion, a P/E ratio of 18.45, a PEG ratio of 2.77 and a beta of 0.64.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $3.81 billion. Sell-side analysts anticipate that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy’s dividend payout ratio (DPR) is currently 66.78%.

Insider Transactions at DTE Energy

In related news, SVP Joann Chavez sold 6,070 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total value of $662,783.30. Following the transaction, the senior vice president now owns 16,667 shares of the company’s stock, valued at $1,819,869.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joann Chavez sold 6,070 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total transaction of $662,783.30. Following the transaction, the senior vice president now directly owns 16,667 shares in the company, valued at approximately $1,819,869.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,095 shares of company stock valued at $2,168,183. Insiders own 0.61% of the company’s stock.

Institutional Trading of DTE Energy

Several institutional investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its stake in shares of DTE Energy by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock valued at $12,815,000 after acquiring an additional 1,106 shares during the last quarter. Raymond James & Associates boosted its stake in shares of DTE Energy by 6.5% during the fourth quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock valued at $23,098,000 after purchasing an additional 12,871 shares during the period. SG Americas Securities LLC grew its holdings in shares of DTE Energy by 273.2% in the fourth quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock worth $5,300,000 after purchasing an additional 35,189 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of DTE Energy by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,737 shares of the utilities provider’s stock worth $4,271,000 after buying an additional 7,975 shares during the period. Finally, Arvest Investments Inc. bought a new position in shares of DTE Energy during the fourth quarter valued at about $2,581,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

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.