Mizuho Increases DTE Energy (NYSE:DTE) Price Target to $122.00

DTE Energy (NYSE:DTEGet Rating) had its target price upped by Mizuho from $115.00 to $122.00 in a research report released on Monday morning, The Fly reports. Mizuho currently has a buy rating on the utilities provider’s stock.

A number of other research firms have also weighed in on DTE. TheStreet lowered shares of DTE Energy from a b rating to a c+ rating in a research report on Thursday, October 6th. Citigroup dropped their price target on shares of DTE Energy from $146.00 to $139.00 in a research report on Friday, October 28th. Guggenheim dropped their price target on shares of DTE Energy from $145.00 to $122.00 in a research report on Monday, October 24th. StockNews.com began coverage on shares of DTE Energy in a research report on Wednesday, October 12th. They set a hold rating on the stock. Finally, Credit Suisse Group lifted their price objective on shares of DTE Energy to $140.00 in a research report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $129.00.

DTE Energy Stock Up 0.7 %

DTE Energy stock opened at $114.49 on Monday. DTE Energy has a 1-year low of $100.64 and a 1-year high of $140.23. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 3.15 and a beta of 0.60. The firm’s fifty day moving average price is $114.37 and its two-hundred day moving average price is $123.85. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 1.94.

DTE Energy (NYSE:DTEGet Rating) last released its quarterly earnings data on Thursday, October 27th. The utilities provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. DTE Energy had a net margin of 5.79% and a return on equity of 12.90%. During the same period last year, the business earned $1.72 EPS. On average, equities research analysts predict that DTE Energy will post 6.02 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Monday, December 19th will be paid a $0.952 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $0.89. The ex-dividend date is Friday, December 16th. This represents a $3.81 annualized dividend and a dividend yield of 3.33%. DTE Energy’s dividend payout ratio (DPR) is presently 61.25%.

Hedge Funds Weigh In On DTE Energy

Several large investors have recently modified their holdings of DTE. Vantage Consulting Group Inc lifted its stake in DTE Energy by 4.1% during the 2nd quarter. Vantage Consulting Group Inc now owns 2,000 shares of the utilities provider’s stock valued at $253,000 after acquiring an additional 78 shares during the period. Independent Advisor Alliance lifted its stake in shares of DTE Energy by 1.3% in the 2nd quarter. Independent Advisor Alliance now owns 6,282 shares of the utilities provider’s stock worth $796,000 after purchasing an additional 79 shares during the period. US Bancorp DE lifted its stake in shares of DTE Energy by 0.3% in the 1st quarter. US Bancorp DE now owns 28,381 shares of the utilities provider’s stock worth $3,752,000 after purchasing an additional 86 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of DTE Energy by 9.1% in the 1st quarter. Quadrant Capital Group LLC now owns 1,038 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 87 shares during the period. Finally, Financial Gravity Asset Management Inc. lifted its stake in shares of DTE Energy by 8.2% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 1,143 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 73.80% of the company’s stock.

About DTE Energy

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DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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