JPMorgan Chase & Co. Forecasts Strong Price Appreciation for DTE Energy (NYSE:DTE) Stock

DTE Energy (NYSE:DTE) had its target price increased by JPMorgan Chase & Co. from $145.00 to $147.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

Other analysts have also issued reports about the company. Barclays reduced their price objective on DTE Energy from $137.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Guggenheim increased their target price on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. BMO Capital Markets increased their target price on DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday, April 21st. Finally, Evercore ISI increased their target price on DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average price target of $141.53.

DTE Energy Trading Down 0.6%

Shares of DTE Energy stock opened at $133.38 on Tuesday. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.29 and a beta of 0.44. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. DTE Energy has a 12-month low of $113.14 and a 12-month high of $140.39. The firm’s 50-day moving average price is $134.03 and its two-hundred day moving average price is $130.82.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. During the same period in the prior year, the company posted $1.67 earnings per share. On average, analysts forecast that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.27%. DTE Energy’s dividend payout ratio (DPR) is 58.92%.

Hedge Funds Weigh In On DTE Energy

Hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of DTE Energy by 5.1% during the first quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider’s stock worth $303,000 after acquiring an additional 107 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of DTE Energy by 39.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock worth $693,000 after acquiring an additional 1,618 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of DTE Energy by 17.7% during the first quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 318 shares during the last quarter. Fifth Third Bancorp raised its position in shares of DTE Energy by 3.5% during the first quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider’s stock worth $1,065,000 after acquiring an additional 264 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of DTE Energy by 8.3% during the first quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider’s stock worth $1,184,000 after acquiring an additional 658 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Company Profile

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.