Morgan Stanley Lowers DTE Energy (NYSE:DTE) Price Target to $134.00

DTE Energy (NYSE:DTE) had its target price lowered by Morgan Stanley from $136.00 to $134.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential downside of 1.77% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company raised their price target on shares of DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Evercore ISI raised their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Guggenheim raised their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Finally, BMO Capital Markets raised their price target on shares of DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.93.

DTE Energy Price Performance

DTE Energy stock opened at $136.41 on Thursday. DTE Energy has a 52 week low of $108.40 and a 52 week high of $140.39. The company’s 50 day moving average price is $134.80 and its two-hundred day moving average price is $127.74. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The stock has a market cap of $28.31 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.41 and a beta of 0.47.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the firm earned $1.67 EPS. On average, equities analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This trade represents a 33.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DTE. Cloud Capital Management LLC bought a new position in DTE Energy in the 1st quarter valued at $25,000. Olde Wealth Management LLC purchased a new position in DTE Energy in the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy in the first quarter worth $28,000. SouthState Corp purchased a new position in DTE Energy in the first quarter worth $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in DTE Energy in the first quarter worth $31,000. 76.06% of the stock is owned by 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.