JPMorgan Chase & Co. Forecasts Strong Price Appreciation for DTE Energy (NYSE:DTE) Stock

DTE Energy (NYSE:DTE) had its price target hoisted by JPMorgan Chase & Co. from $145.00 to $147.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 9.49% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Barclays cut their target price on DTE Energy from $137.00 to $136.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a report on Friday, May 16th. Citigroup reiterated a “buy” rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. BMO Capital Markets increased their target price on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a report on Monday, April 21st. Finally, Morgan Stanley dropped their price objective on DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $141.53.

DTE Energy Stock Performance

Shares of DTE stock opened at $134.25 on Tuesday. The company has a market cap of $27.86 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 2.27 and a beta of 0.44. DTE Energy has a 52 week low of $114.77 and a 52 week high of $140.39. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. The firm has a 50 day moving average of $133.94 and a 200-day moving average of $130.85.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm posted $1.67 EPS. On average, equities analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

Institutional Investors Weigh In On DTE Energy

Hedge funds have recently made changes to their positions in the business. Cloud Capital Management LLC bought a new stake in DTE Energy in the 1st quarter valued at about $25,000. Quintet Private Bank Europe S.A. bought a new stake in DTE Energy in the 2nd quarter valued at about $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy in the 1st quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in DTE Energy in the 1st quarter valued at about $28,000. Finally, SouthState Corp bought a new stake in DTE Energy in the 1st quarter valued at about $29,000. 76.06% of the stock is currently owned by institutional investors.

About DTE Energy

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.