BMO Capital Markets Issues Positive Forecast for DTE Energy (NYSE:DTE) Stock Price

DTE Energy (NYSE:DTE) had its price objective upped by BMO Capital Markets from $140.00 to $144.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a market perform rating on the utilities provider’s stock.

Several other analysts also recently issued reports on DTE. JPMorgan Chase & Co. lifted their price target on DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a report on Monday. Morgan Stanley dropped their target price on DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Evercore ISI upped their price target on DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $142.43.

DTE Energy Stock Performance

Shares of DTE opened at $138.4890 on Monday. The firm has a market cap of $28.75 billion, a P/E ratio of 19.93, a PEG ratio of 2.78 and a beta of 0.42. DTE Energy has a twelve month low of $115.59 and a twelve month high of $142.05. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The firm’s 50 day moving average price is $135.96 and its two-hundred day moving average price is $134.54.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. On average, analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DTE Energy’s payout ratio is presently 62.73%.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the sale, the vice president directly owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of DTE Energy in the 1st quarter valued at about $25,000. Quintet Private Bank Europe S.A. acquired a new position in DTE Energy during the second quarter worth approximately $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy in the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in DTE Energy in the first quarter valued at approximately $28,000. Finally, SouthState Corp acquired a new stake in shares of DTE Energy in the first quarter valued at approximately $29,000. Institutional investors 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.