Wells Fargo & Company Forecasts Strong Price Appreciation for DTE Energy (NYSE:DTE) Stock

DTE Energy (NYSE:DTE) had its price target increased by analysts at Wells Fargo & Company from $145.00 to $154.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 12.95% from the company’s current price.

DTE has been the topic of several other reports. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. BMO Capital Markets increased their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research note on Monday, April 21st. Evercore ISI boosted their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday. Guggenheim increased their target price on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Finally, Morgan Stanley boosted their price target on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and an average target price of $140.31.

DTE Energy Trading Up 0.4 %

Shares of DTE opened at $136.35 on Friday. The firm has a market capitalization of $28.29 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. DTE Energy has a 1-year low of $108.40 and a 1-year high of $140.39. The company has a 50-day moving average of $133.83 and a 200 day moving average of $126.70.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. On average, research analysts expect that DTE Energy will post 7.18 EPS for the current year.

Insider Buying and Selling at DTE Energy

In other news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of DTE Energy

Several large investors have recently made changes to their positions in the business. Capital World Investors boosted its holdings in 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 last quarter. GAMMA Investing LLC boosted its holdings in DTE Energy by 14,878.4% during the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider’s stock worth $163,655,000 after buying an additional 1,175,689 shares in the last quarter. Vanguard Group Inc. increased its holdings in 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 buying an additional 879,670 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of DTE Energy by 1,794.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock worth $111,159,000 after acquiring an additional 871,978 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of DTE Energy by 750.0% during the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock worth $116,482,000 after acquiring an additional 851,169 shares in the last quarter. 76.06% of the stock is 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.