DTE Energy (NYSE:DTE) Price Target Lowered to $120.00 at Scotiabank

DTE Energy (NYSE:DTE) had its price objective dropped by stock analysts at Scotiabank from $129.00 to $120.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price objective indicates a potential upside of 8.77% from the stock’s previous close.

Several other research firms also recently issued reports on DTE. JPMorgan Chase & Co. upped their price target on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Guggenheim downgraded DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target on the stock. in a report on Monday, January 22nd. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. KeyCorp upped their price objective on shares of DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Finally, BMO Capital Markets lifted their target price on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.10.

DTE Energy Stock Up 1.6 %

Shares of NYSE DTE traded up $1.75 during trading hours on Monday, hitting $110.32. The stock had a trading volume of 379,949 shares, compared to its average volume of 1,182,608. The company has a market capitalization of $22.83 billion, a P/E ratio of 16.34, a P/E/G ratio of 2.70 and a beta of 0.64. The firm’s 50-day moving average price is $108.74 and its two-hundred day moving average price is $105.77. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. DTE Energy has a 52 week low of $90.14 and a 52 week high of $116.73.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.96 by $0.01. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the prior year, the business posted $1.31 EPS. Analysts anticipate that DTE Energy will post 6.71 EPS for the current fiscal year.

Insider Activity

In other news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the sale, the chief operating officer now owns 26,118 shares in the company, valued at approximately $2,801,155.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,095 shares of company stock worth $2,168,183. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of DTE Energy

Large investors have recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC grew its position in DTE Energy by 70.2% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,455 shares of the utilities provider’s stock worth $144,000 after acquiring an additional 600 shares during the last quarter. SS&H Financial Advisors Inc. acquired a new position in DTE Energy in the third quarter worth $735,000. Advisory Alpha LLC grew its holdings in shares of DTE Energy by 7.2% during the third quarter. Advisory Alpha LLC now owns 2,537 shares of the utilities provider’s stock worth $252,000 after purchasing an additional 170 shares during the last quarter. Secure Asset Management LLC increased its stake in shares of DTE Energy by 4.3% in the third quarter. Secure Asset Management LLC now owns 7,561 shares of the utilities provider’s stock valued at $751,000 after buying an additional 312 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in shares of DTE Energy in the third quarter valued at about $1,362,000. 76.06% of the stock is owned by 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.