Citigroup Reiterates Buy Rating for DTE Energy (NYSE:DTE)

DTE Energy (NYSE:DTE)‘s stock had its “buy” rating reissued by equities researchers at Citigroup in a report released on Friday, MarketBeat reports. They currently have a $151.00 price target on the utilities provider’s stock, up from their previous price target of $142.00. Citigroup’s price objective indicates a potential upside of 10.70% from the stock’s current price.

A number of other brokerages have also recently commented on DTE. Morgan Stanley dropped their target price on DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Guggenheim upped 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, Evercore ISI increased their price objective on DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.93.

DTE Energy Stock Up 1.3%

Shares of DTE opened at $136.41 on Friday. The firm has a market cap of $28.31 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.41 and a beta of 0.47. DTE Energy has a 1 year low of $108.40 and a 1 year high of $140.39. 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 simple moving average of $134.80 and a two-hundred day simple moving average of $127.85.

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

Institutional Trading of DTE Energy

Several hedge funds and other institutional investors have recently modified their holdings of DTE. Cloud Capital Management LLC bought a new position in shares of DTE Energy in the first quarter worth about $25,000. Olde Wealth Management LLC acquired a new stake in DTE Energy during the 1st quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in DTE Energy during the 1st quarter worth about $28,000. SouthState Corp acquired a new stake in shares of DTE Energy in the first quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in DTE Energy during the first quarter worth approximately $31,000. 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.