DTE Energy (NYSE:DTE) Price Target Raised to $144.00

DTE Energy (NYSE:DTE) had its price objective lifted by Mizuho from $140.00 to $144.00 in a research report released on Monday morning, Marketbeat reports. They currently have an outperform rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the company. Morgan Stanley reissued an “overweight” rating and issued a $142.00 target price on shares of DTE Energy in a report on Wednesday, January 21st. Wells Fargo & Company lowered their price objective on DTE Energy from $157.00 to $152.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Bank of America raised their target price on DTE Energy from $153.00 to $154.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. BMO Capital Markets decreased their target price on DTE Energy from $151.00 to $148.00 and set a “market perform” rating for the company in a research note on Wednesday, December 24th. Finally, Jefferies Financial Group raised DTE Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $150.00 in a report on Thursday, December 11th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.62.

DTE Energy Stock Down 0.1%

Shares of NYSE:DTE opened at $136.56 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.15 and a debt-to-equity ratio of 2.01. DTE Energy has a fifty-two week low of $117.56 and a fifty-two week high of $143.79. The stock has a market cap of $28.36 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.51 and a beta of 0.49. The firm’s 50 day moving average price is $132.04 and its 200 day moving average price is $136.13.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, October 30th. The utilities provider reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.15. DTE Energy had a net margin of 9.34% and a return on equity of 12.63%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the firm posted $2.22 EPS. As a group, equities research analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a $1.165 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $1.09. The ex-dividend date of this dividend was Monday, December 15th. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. DTE Energy’s payout ratio is currently 69.97%.

Institutional Investors Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DTE. Empowered Funds LLC increased its holdings in shares of DTE Energy by 200.7% in the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock valued at $1,370,000 after acquiring an additional 6,614 shares during the period. Woodline Partners LP grew its position in DTE Energy by 40.8% during the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock worth $2,421,000 after purchasing an additional 5,072 shares during the last quarter. Intech Investment Management LLC increased its stake in DTE Energy by 6.5% in the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock valued at $1,754,000 after purchasing an additional 773 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of DTE Energy in the second quarter valued at about $203,000. Finally, Patton Fund Management Inc. purchased a new stake in shares of DTE Energy in the second quarter valued at about $216,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.