DTE Energy (NYSE:DTE) Price Target Raised to $138.00 at KeyCorp

DTE Energy (NYSE:DTE) had its target price raised by KeyCorp from $136.00 to $138.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for DTE Energy’s Q3 2024 earnings at $1.98 EPS, Q4 2024 earnings at $1.76 EPS and FY2028 earnings at $9.17 EPS.

DTE has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. LADENBURG THALM/SH SH started coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price for the company. Mizuho lifted their target price on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Bank of America lifted their target price on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Barclays lifted their target price on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.46.

DTE Energy Price Performance

DTE opened at $126.57 on Tuesday. The business has a fifty day moving average of $125.68 and a 200 day moving average of $117.75. DTE Energy has a 52-week low of $92.58 and a 52-week high of $131.66. 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 $26.19 billion, a P/E ratio of 20.77, a PEG ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, October 24th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.35. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $3.17 billion. As a group, sell-side analysts anticipate that DTE Energy will post 6.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. ESL Trust Services LLC purchased a new position in shares of DTE Energy in the 1st quarter worth approximately $27,000. Ridgewood Investments LLC purchased a new stake in DTE Energy during the 2nd quarter worth approximately $31,000. Denali Advisors LLC purchased a new stake in DTE Energy during the 1st quarter worth approximately $34,000. Salomon & Ludwin LLC grew its position in DTE Energy by 82.3% during the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 195 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new stake in DTE Energy during the 2nd quarter worth approximately $54,000. Hedge funds and other 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.