KeyCorp Increases DTE Energy (NYSE:DTE) Price Target to $130.00

DTE Energy (NYSE:DTE) had its target price hoisted by equities researchers at KeyCorp from $126.00 to $130.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target suggests a potential upside of 3.42% from the stock’s current price.

DTE has been the subject of several other reports. LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target for the company. Morgan Stanley upped their target price on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays lifted their price target on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Scotiabank boosted their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.58.

DTE Energy Stock Performance

DTE Energy stock opened at $125.70 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The stock has a market cap of $26.01 billion, a PE ratio of 20.57, a P/E/G ratio of 2.28 and a beta of 0.67. DTE Energy has a 12-month low of $90.14 and a 12-month high of $127.59. The business’s 50-day moving average price is $121.09 and its two-hundred day moving average price is $114.74.

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

Hedge Funds Weigh In On DTE Energy

A number of hedge funds have recently bought and sold shares of DTE. ESL Trust Services LLC bought a new position in DTE Energy during the first quarter worth $27,000. Rise Advisors LLC raised its stake in DTE Energy by 89.6% during the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after buying an additional 129 shares during the last quarter. Ridgewood Investments LLC bought a new position in DTE Energy during the second quarter worth $31,000. Denali Advisors LLC bought a new position in DTE Energy during the first quarter worth $34,000. Finally, Salomon & Ludwin LLC raised its stake in DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after buying an additional 195 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

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.