DTE Energy (NYSE:DTE) Price Target Raised to $113.00

DTE Energy (NYSE:DTE) had its price objective increased by BMO Capital Markets from $111.00 to $113.00 in a research report released on Wednesday, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

A number of other research analysts have also weighed in on the company. TheStreet raised DTE Energy from a c+ rating to a b- rating in a report on Friday, March 15th. KeyCorp lifted their target price on DTE Energy from $106.00 to $117.00 and gave the company an overweight rating in a report on Thursday, January 4th. Guggenheim lowered DTE Energy from a buy rating to a neutral rating and set a $111.00 target price for the company. in a report on Monday, January 22nd. Barclays boosted their price objective on DTE Energy from $112.00 to $115.00 and gave the stock an overweight rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price objective on DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy presently has an average rating of Hold and an average price target of $114.56.

DTE Energy Trading Up 2.0 %

Shares of DTE Energy stock opened at $108.57 on Wednesday. DTE Energy has a 52-week low of $90.14 and a 52-week high of $116.73. The stock’s 50-day simple moving average is $108.74 and its 200 day simple moving average is $105.65. The stock has a market capitalization of $22.47 billion, a P/E ratio of 16.06, a P/E/G ratio of 2.62 and a beta of 0.64. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. During the same quarter in the previous year, the firm earned $1.31 EPS. As a group, research analysts anticipate that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.76%. The ex-dividend date was Friday, March 15th. DTE Energy’s dividend payout ratio is currently 60.36%.

Insiders Place Their Bets

In other DTE Energy news, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $743,200.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other DTE Energy news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total value of $300,893.25. Following the completion of the sale, the vice president now owns 5,469 shares of the company’s stock, valued at $593,003.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $743,200.92. The disclosure for this sale can be found here. Insiders sold a total of 20,095 shares of company stock valued at $2,168,183 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of DTE Energy

Institutional investors have recently made changes to their positions in the stock. FORVIS Wealth Advisors LLC grew its holdings in shares of DTE Energy by 8.9% in the first quarter. FORVIS Wealth Advisors LLC now owns 16,544 shares of the utilities provider’s stock worth $1,855,000 after purchasing an additional 1,358 shares during the last quarter. Leeward Investments LLC MA grew its holdings in shares of DTE Energy by 4.0% in the first quarter. Leeward Investments LLC MA now owns 134,138 shares of the utilities provider’s stock worth $15,042,000 after purchasing an additional 5,148 shares during the last quarter. Retirement Guys Formula LLC grew its holdings in shares of DTE Energy by 194.6% in the first quarter. Retirement Guys Formula LLC now owns 8,299 shares of the utilities provider’s stock worth $931,000 after purchasing an additional 5,482 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of DTE Energy by 8.2% in the first quarter. First Trust Direct Indexing L.P. now owns 6,949 shares of the utilities provider’s stock worth $779,000 after purchasing an additional 529 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in shares of DTE Energy in the first quarter worth approximately $34,000. 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.