LADENBURG THALM/SH SH Forecasts Strong Price Appreciation for DTE Energy (NYSE:DTE) Stock

DTE Energy (NYSE:DTE) had its price target lifted by equities researchers at LADENBURG THALM/SH SH from $135.50 to $144.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. LADENBURG THALM/SH SH‘s price target would suggest a potential upside of 6.85% from the company’s previous close.

Several other equities research analysts have also commented on the company. Jefferies Financial Group set a $152.00 price objective on DTE Energy in a research note on Friday, October 23rd. Weiss Ratings downgraded DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. JPMorgan Chase & Co. raised their target price on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. BMO Capital Markets lifted their price target on DTE Energy from $134.00 to $139.00 and gave the stock a “market perform” rating in a research note on Friday, October 16th. Finally, Mizuho dropped their price target on DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $148.58.

DTE Energy Price Performance

DTE Energy stock opened at $135.23 on Friday. The stock has a market capitalization of $28.14 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.77 and a beta of 0.35. The company’s fifty day moving average price is $130.16 and its 200 day moving average price is $140.85. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.40 and a current ratio of 0.62. DTE Energy has a 1 year low of $119.68 and a 1 year high of $155.74.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, November 5th. The utilities provider reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.17. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.61 billion. DTE Energy had a net margin of 8.21% and a return on equity of 12.17%. During the same period in the prior year, the business posted $2.01 earnings per share. As a group, equities research analysts anticipate that DTE Energy will post 7.70 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Trading of DTE Energy

Hedge funds have recently bought and sold shares of the business. First Bancorp Inc ME acquired a new stake in DTE Energy in the 2nd quarter valued at about $29,000. Community Bank N.A. acquired a new stake in shares of DTE Energy during the second quarter worth about $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of DTE Energy during the second quarter worth about $35,000. Optiver Holding B.V. purchased a new stake in shares of DTE Energy in the 1st quarter valued at about $36,000. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of DTE Energy by 682.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state.

The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company’s investments in renewable energy generation.

DTE Energy traces its roots to Detroit Edison, founded in 1886.