DTE Energy (NYSE:DTE) Given New $143.00 Price Target at Morgan Stanley

DTE Energy (NYSE:DTE) had its price target raised by Morgan Stanley from $142.00 to $143.00 in a research report report published on Monday,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages also recently issued reports on DTE. Scotiabank reduced their price objective 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. Mizuho boosted their price target on shares of DTE Energy from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. BMO Capital Markets reduced their price target on shares of DTE Energy from $151.00 to $148.00 and set a “market perform” rating for the company in a research report on Wednesday, December 24th. Barclays lowered their price objective on shares of DTE Energy from $148.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday, January 21st. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.69.

DTE Energy Stock Down 1.1%

DTE Energy stock opened at $132.90 on Monday. DTE Energy has a fifty-two week low of $118.20 and a fifty-two week high of $143.79. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.68 and a current ratio of 1.15. The firm’s 50-day simple moving average is $131.92 and its 200 day simple moving average is $136.13. The stock has a market cap of $27.60 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.47 and a beta of 0.49.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were paid a $1.165 dividend. The ex-dividend date was Monday, December 15th. This represents a $4.66 dividend on an annualized basis and a yield of 3.5%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.09. DTE Energy’s dividend payout ratio (DPR) is presently 69.97%.

Hedge Funds Weigh In On DTE Energy

Hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC increased its stake in shares of DTE Energy by 5.0% during the third quarter. AE Wealth Management LLC now owns 118,521 shares of the utilities provider’s stock valued at $16,762,000 after buying an additional 5,658 shares during the period. CWM LLC boosted its holdings in DTE Energy by 50.5% in the third quarter. CWM LLC now owns 35,893 shares of the utilities provider’s stock valued at $5,076,000 after acquiring an additional 12,045 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in DTE Energy in the third quarter valued at $16,723,000. Bogart Wealth LLC increased its position in DTE Energy by 49,181.8% during the 3rd quarter. Bogart Wealth LLC now owns 54,210 shares of the utilities provider’s stock valued at $7,667,000 after purchasing an additional 54,100 shares during the period. Finally, Carnegie Investment Counsel raised its holdings in DTE Energy by 175.8% in the 3rd quarter. Carnegie Investment Counsel now owns 12,250 shares of the utilities provider’s stock worth $1,733,000 after purchasing an additional 7,808 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

About DTE Energy

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.