Bank of America Increases DTE Energy (NYSE:DTE) Price Target to $136.00

DTE Energy (NYSE:DTE) had its price objective raised by analysts at Bank of America from $131.00 to $136.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. Bank of America‘s price objective suggests a potential upside of 8.78% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on DTE. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective for the company. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Wells Fargo & Company increased their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley increased their price objective on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, KeyCorp increased their price objective on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.92.

DTE Energy Trading Up 0.3 %

Shares of DTE stock opened at $125.02 on Thursday. The stock has a market capitalization of $25.87 billion, a PE ratio of 20.46, a P/E/G ratio of 2.27 and a beta of 0.66. DTE Energy has a 1-year low of $90.14 and a 1-year high of $126.76. The business has a 50-day moving average of $117.20 and a 200 day moving average of $113.04. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same period in the prior year, the business posted $0.99 EPS. As a group, sell-side analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

Insider Activity

In related news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 SEC, which can be accessed through this link. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of DTE Energy

A number of institutional investors and hedge funds have recently modified their holdings of DTE. International Assets Investment Management LLC bought a new stake in shares of DTE Energy in the 4th quarter worth $6,606,000. Federated Hermes Inc. increased its holdings in shares of DTE Energy by 27.0% in the 4th quarter. Federated Hermes Inc. now owns 1,100 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 234 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of DTE Energy by 4.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 10,708 shares of the utilities provider’s stock worth $1,181,000 after purchasing an additional 443 shares in the last quarter. Mather Group LLC. bought a new stake in shares of DTE Energy in the 4th quarter worth $223,000. Finally, Choreo LLC increased its holdings in shares of DTE Energy by 152.1% in the 4th quarter. Choreo LLC now owns 5,168 shares of the utilities provider’s stock worth $571,000 after purchasing an additional 3,118 shares in the last quarter. 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.