DTE Energy (NYSE:DTE) Given New $111.00 Price Target at Morgan Stanley

DTE Energy (NYSE:DTE) had its target price trimmed by Morgan Stanley from $116.00 to $111.00 in a report published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other equities analysts have also commented on the stock. BMO Capital Markets increased their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the company a market perform rating in a research report on Wednesday, April 17th. TheStreet raised shares of DTE Energy from a c+ rating to a b- rating in a research report on Friday, March 15th. Barclays raised their price target on shares of DTE Energy from $115.00 to $119.00 and gave the stock an overweight rating in a research report on Tuesday, April 30th. Scotiabank reduced their price target on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating for the company in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $115.67.

DTE Energy Trading Up 1.7 %

NYSE DTE opened at $112.80 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. DTE Energy has a 12 month low of $90.14 and a 12 month high of $117.44. The company’s 50-day moving average price is $112.57 and its 200-day moving average price is $109.92. The stock has a market cap of $23.34 billion, a PE ratio of 18.46, a PEG ratio of 2.02 and a beta of 0.67.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. Equities research analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

Insider Activity

In related news, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the sale, the vice president now owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the sale, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The disclosure for this sale can be found here. Insiders sold a total of 14,698 shares of company stock valued at $1,702,444 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DTE Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. purchased a new stake in DTE Energy during the third quarter worth about $283,000. Envestnet Asset Management Inc. increased its stake in DTE Energy by 17.8% during the third quarter. Envestnet Asset Management Inc. now owns 72,455 shares of the utilities provider’s stock worth $7,193,000 after purchasing an additional 10,964 shares during the period. LPL Financial LLC increased its stake in DTE Energy by 17.5% during the third quarter. LPL Financial LLC now owns 129,736 shares of the utilities provider’s stock worth $12,880,000 after purchasing an additional 19,282 shares during the period. Mariner LLC increased its stake in DTE Energy by 8.3% during the third quarter. Mariner LLC now owns 39,357 shares of the utilities provider’s stock worth $3,907,000 after purchasing an additional 3,025 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of DTE Energy during the third quarter worth about $2,004,000. Institutional investors and hedge funds 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.