DTE Energy (NYSE:DTE) Price Target Raised to $136.00

DTE Energy (NYSE:DTE) had its price target upped by Morgan Stanley from $131.00 to $136.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other equities analysts also recently weighed in on DTE. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Scotiabank raised their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. BMO Capital Markets raised their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Stock Performance

DTE stock opened at $137.18 on Thursday. The firm has a market cap of $28.47 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.41 and a beta of 0.59. The firm has a 50-day simple moving average of $127.38 and a two-hundred day simple moving average of $124.87. DTE Energy has a one year low of $103.06 and a one year high of $138.22. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. On average, equities analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Buying and Selling at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is owned by insiders.

Institutional Trading of DTE Energy

Several institutional investors and hedge funds have recently made changes to their positions in DTE. Legacy Investment Solutions LLC purchased a new stake in shares of DTE Energy in the third quarter valued at $30,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy in the third quarter valued at $35,000. Versant Capital Management Inc lifted its position in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the period. Mattson Financial Services LLC purchased a new position in DTE Energy during the fourth quarter worth about $38,000. Finally, Robbins Farley purchased a new position in DTE Energy during the fourth quarter worth about $57,000. 76.06% of the stock is currently owned by hedge funds and other 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.