Brokerages Set DTE Energy (NYSE:DTE) Target Price at $119.30

DTE Energy (NYSE:DTE) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $119.30.

Several brokerages have weighed in on DTE. Barclays boosted their price objective on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Scotiabank dropped their price target on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets boosted their price objective on shares of DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a research report on Monday, July 15th. KeyCorp increased their target price on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, Morgan Stanley reduced their price target on DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, June 24th.

Insider Activity at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now directly owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On DTE Energy

A number of large investors have recently added to or reduced their stakes in DTE. Capital Research Global Investors increased its position in shares of DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock valued at $2,376,768,000 after purchasing an additional 261,623 shares during the last quarter. Boston Partners increased its holdings in DTE Energy by 66.8% during the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after buying an additional 1,018,212 shares during the last quarter. Clearbridge Investments LLC raised its position in DTE Energy by 224.7% in the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after acquiring an additional 1,756,459 shares during the period. Janus Henderson Group PLC boosted its stake in shares of DTE Energy by 6,964.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after acquiring an additional 2,060,762 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of DTE Energy by 2.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,682,067 shares of the utilities provider’s stock worth $185,465,000 after acquiring an additional 40,208 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE stock opened at $121.30 on Friday. The firm has a market cap of $25.10 billion, a P/E ratio of 19.85, a P/E/G ratio of 2.27 and a beta of 0.66. The firm’s fifty day moving average is $114.53 and its 200 day moving average is $111.59. DTE Energy has a 52 week low of $90.14 and a 52 week high of $126.76. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the business posted $0.99 earnings per share. Research analysts predict that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

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.