DTE Energy (NYSE:DTE) Price Target Cut to $137.00 by Analysts at Morgan Stanley

DTE Energy (NYSE:DTE) had its price objective trimmed by Morgan Stanley from $140.00 to $137.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts have also weighed in on the stock. Barclays upped their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. BMO Capital Markets increased their price objective on DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a research note on Monday, August 25th. Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a research report on Sunday, September 14th. Finally, JPMorgan Chase & Co. upped their price target on DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.00.

DTE Energy Trading Down 0.8%

NYSE DTE opened at $137.64 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. DTE Energy has a 52 week low of $115.59 and a 52 week high of $142.05. The business has a 50 day moving average price of $137.83 and a 200-day moving average price of $135.43. The company has a market cap of $28.57 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 2.76 and a beta of 0.42.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. As a group, equities analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction on Thursday, August 14th. The stock was 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 in the company, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds have recently made changes to their positions in DTE. Cloud Capital Management LLC purchased a new stake in DTE Energy during the first quarter worth about $25,000. Quintet Private Bank Europe S.A. bought a new position in shares of DTE Energy during the 2nd quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new stake in shares of DTE Energy during the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of DTE Energy in the 1st quarter worth approximately $28,000. Finally, SouthState Corp purchased a new position in DTE Energy in the first quarter valued at approximately $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.