Macquarie Raises DTE Energy Co. (DTE) Price Target to $107.00
“We see these assets as attractive strategically given their location, contracts, diversified list of customers, potential for expansion and interconnection with DTE’s existing systems,” analyst Andrew Weisel wrote in a note.”We estimate these deals will add US$0.04/sh (+0.8 percent) in ’17 and US$0.15/sh (+2.3 percent) by ’20, ahead of DTE guidance of US$0.10. We assume a 50/50 debt/equity mix, 12 percent IRR and 10 percent annual growth,,” the firm’s analyst commented.
A number of other equities research analysts have also issued reports on DTE. Zacks Investment Research lowered shares of DTE Energy from a buy rating to a hold rating in a research note on Tuesday, September 27th. KeyCorp set a $105.00 target price on shares of DTE Energy and gave the company a buy rating in a research note on Monday, September 12th. Barclays PLC restated a buy rating and issued a $108.00 target price on shares of DTE Energy in a research note on Thursday, July 28th. Finally, BMO Capital Markets restated a hold rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $103.20.
Shares of DTE Energy (NYSE:DTE) opened at 93.67 on Tuesday. The company has a 50-day moving average of $94.14 and a 200-day moving average of $92.98. The firm has a market cap of $16.81 billion, a P/E ratio of 22.62 and a beta of 0.25. DTE Energy has a 12 month low of $77.35 and a 12 month high of $100.45.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that DTE Energy will post $5.15 EPS for the current fiscal year.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the completion of the sale, the chairman now owns 77,500 shares of the company’s stock, valued at approximately $7,591,900. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.93% of the company’s stock.
Several large investors have recently made changes to their positions in DTE. Cohen & Steers Inc. increased its stake in shares of DTE Energy by 3,866.0% in the second quarter. Cohen & Steers Inc. now owns 19,761,823 shares of the company’s stock worth $610,245,000 after buying an additional 19,263,546 shares in the last quarter. Vanguard Group Inc. boosted its position in DTE Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,705,663 shares of the company’s stock valued at $1,655,866,000 after buying an additional 496,138 shares during the period. State Street Corp boosted its position in DTE Energy by 7.5% in the first quarter. State Street Corp now owns 9,440,740 shares of the company’s stock valued at $855,889,000 after buying an additional 661,094 shares during the period. BlackRock Fund Advisors boosted its position in DTE Energy by 6.6% in the second quarter. BlackRock Fund Advisors now owns 6,092,557 shares of the company’s stock valued at $603,894,000 after buying an additional 378,703 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in DTE Energy by 11.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,243,118 shares of the company’s stock valued at $475,341,000 after buying an additional 552,321 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.
About DTE Energy
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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