Brokerages Set DTE Energy (NYSE:DTE) PT at $115.50

Shares of DTE Energy (NYSE:DTE) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $115.50.

DTE has been the topic of a number of analyst reports. Scotiabank dropped their price target on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Wolfe Research downgraded shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. Morgan Stanley boosted their target price on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. BMO Capital Markets boosted their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th.

DTE Energy Stock Up 0.8 %

Shares of DTE Energy stock opened at $112.75 on Friday. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The company has a 50-day moving average of $109.49 and a 200 day moving average of $106.75. The firm has a market cap of $23.33 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.81 and a beta of 0.64.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. As a group, sell-side analysts anticipate that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.62%. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 2,775 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total transaction of $300,893.25. Following the completion of the transaction, the vice president now directly owns 5,469 shares of the company’s stock, valued at $593,003.67. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $108.43, for a total transaction of $300,893.25. Following the sale, the vice president now directly owns 5,469 shares in the company, valued at approximately $593,003.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew T. Paul sold 5,850 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the completion of the transaction, 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 20,095 shares of company stock valued at $2,168,183 in the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Simplicity Solutions LLC grew its holdings in shares of DTE Energy by 14.1% in the third quarter. Simplicity Solutions LLC now owns 4,334 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 534 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of DTE Energy during the third quarter worth approximately $203,000. Xponance Inc. raised its stake in shares of DTE Energy by 3.7% during the third quarter. Xponance Inc. now owns 26,952 shares of the utilities provider’s stock valued at $2,676,000 after acquiring an additional 956 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of DTE Energy by 7.7% in the third quarter. Raymond James & Associates now owns 196,617 shares of the utilities provider’s stock valued at $19,520,000 after purchasing an additional 14,040 shares during the period. Finally, Independent Advisor Alliance grew its stake in DTE Energy by 85.6% in the third quarter. Independent Advisor Alliance now owns 11,770 shares of the utilities provider’s stock worth $1,169,000 after purchasing an additional 5,428 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other 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.