Brokerages Set DTE Energy (NYSE:DTE) Target Price at $138.58

Shares of DTE Energy (NYSE:DTE) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $138.58.

DTE has been the subject of a number of research reports. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Guggenheim raised their target price on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, BMO Capital Markets boosted their price objective on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th.

DTE Energy Trading Up 0.8 %

NYSE:DTE opened at $135.55 on Monday. The company has a market cap of $28.13 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The company has a 50 day simple moving average of $128.34 and a two-hundred day simple moving average of $125.10. DTE Energy has a 12 month low of $103.06 and a 12 month high of $138.22.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Research analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

Insider Activity

In other news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in DTE. Capital World Investors lifted its holdings in shares of DTE Energy by 123.2% in the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock valued at $823,905,000 after acquiring an additional 3,766,221 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after purchasing an additional 879,670 shares during the period. Balyasny Asset Management L.P. increased its position in shares of DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock valued at $111,159,000 after purchasing an additional 871,978 shares during the last quarter. AQR Capital Management LLC raised its holdings in DTE Energy by 750.0% during the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock valued at $116,482,000 after buying an additional 851,169 shares during the period. Finally, Invesco Ltd. lifted its position in DTE Energy by 50.2% in the fourth quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider’s stock worth $297,358,000 after buying an additional 822,854 shares during the last quarter. 76.06% of the stock is 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.