Brokerages Set DTE Energy Company (NYSE:DTE) Target Price at $147.69

DTE Energy Company (NYSE:DTE) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $147.6923.

Several research analysts have weighed in on DTE shares. Scotiabank dropped their price target on DTE Energy from $147.00 to $146.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Morgan Stanley raised their price target on shares of DTE Energy from $142.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Mizuho raised their target price on DTE Energy from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Jefferies Financial Group upped their price objective on shares of DTE Energy from $150.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, UBS Group reduced their price target on shares of DTE Energy from $155.00 to $151.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th.

DTE Energy Trading Up 2.8%

NYSE:DTE opened at $144.87 on Thursday. DTE Energy has a 12 month low of $123.69 and a 12 month high of $145.41. The company has a 50 day simple moving average of $132.57 and a two-hundred day simple moving average of $136.12. The company has a market cap of $30.09 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.66 and a beta of 0.49. The company has a current ratio of 1.15, a quick ratio of 0.68 and a debt-to-equity ratio of 2.01.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a dividend of $1.165 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $4.66 dividend on an annualized basis and a yield of 3.2%. DTE Energy’s dividend payout ratio (DPR) is presently 69.97%.

Hedge Funds Weigh In On DTE Energy

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in DTE Energy by 4.2% during the second quarter. Vanguard Group Inc. now owns 25,964,872 shares of the utilities provider’s stock worth $3,439,307,000 after buying an additional 1,042,589 shares in the last quarter. Cohen & Steers Inc. purchased a new position in DTE Energy in the fourth quarter valued at about $125,604,000. Millennium Management LLC raised its stake in DTE Energy by 810.6% during the third quarter. Millennium Management LLC now owns 833,595 shares of the utilities provider’s stock valued at $117,895,000 after buying an additional 742,056 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of DTE Energy by 176.5% during the 2nd quarter. Raymond James Financial Inc. now owns 1,015,208 shares of the utilities provider’s stock worth $134,474,000 after purchasing an additional 648,007 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in DTE Energy by 12.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,571,081 shares of the utilities provider’s stock valued at $788,004,000 after acquiring an additional 602,602 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.