Brokerages Set DTE Energy (NYSE:DTE) Price Target at $115.50

Shares of DTE Energy (NYSE:DTE) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $115.50.

Several brokerages have weighed in 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 report on Wednesday, March 13th. Morgan Stanley upped their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Barclays lifted their price target on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Guggenheim cut shares of DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a report on Monday, January 22nd. Finally, TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th.

DTE Energy Trading Up 1.4 %

Shares of DTE stock opened at $116.32 on Friday. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $116.73. The company has a 50 day moving average price of $109.87 and a 200 day moving average price of $107.04. The stock has a market capitalization of $24.07 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.81 billion. Equities research analysts predict that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio (DPR) is currently 66.78%.

Insider Activity

In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of DTE Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now owns 26,118 shares of the company’s stock, valued at $2,801,155.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Tracy J. Myrick sold 600 shares of the 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 completion of the sale, the chief accounting officer now owns 3,462 shares in the company, valued at $370,572.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the transaction, the chief operating officer now owns 26,118 shares in the company, valued at approximately $2,801,155.50. The disclosure for this sale can be found here. In the last three months, insiders sold 20,095 shares of company stock valued at $2,168,183. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors lifted its holdings in shares of DTE Energy by 1.9% during the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after purchasing an additional 399,646 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of DTE Energy by 16.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock worth $509,081,000 after acquiring an additional 724,561 shares during the period. Boston Partners boosted its holdings in shares of DTE Energy by 66.8% in the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after acquiring an additional 1,018,212 shares in the last quarter. Invesco Ltd. increased its stake in shares of DTE Energy by 6.6% during the third quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock worth $221,314,000 after acquiring an additional 137,960 shares during the period. Finally, Northern Trust Corp lifted its position in DTE Energy by 1.5% in the third quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock valued at $190,937,000 after purchasing an additional 27,891 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Company Profile

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.