DTE Energy (NYSE:DTE) Price Target Raised to $144.50

DTE Energy (NYSE:DTE) had its price target increased by LADENBURG THALM/SH SH from $135.50 to $144.50 in a research report sent to investors on Friday,Benzinga reports. LADENBURG THALM/SH SH currently has a buy rating on the utilities provider’s stock.

A number of other research firms have also recently commented on DTE. BMO Capital Markets increased their price target on DTE Energy from $134.00 to $139.00 and gave the company a “market perform” rating in a research note on Friday, October 16th. Barclays cut their price objective on shares of DTE Energy from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday, October 16th. Truist Financial set a $139.00 price objective on shares of DTE Energy in a report on Friday, October 16th. Mizuho decreased their price objective on shares of DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research report on Monday, September 28th. Finally, Weiss Ratings cut shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.58.

DTE Energy Stock Performance

Shares of DTE stock opened at $135.23 on Friday. The business’s fifty day simple moving average is $130.16 and its 200-day simple moving average is $140.85. The company has a market cap of $28.14 billion, a PE ratio of 20.61, a PEG ratio of 2.77 and a beta of 0.35. The company has a current ratio of 0.62, a quick ratio of 0.40 and a debt-to-equity ratio of 1.97. DTE Energy has a 12-month low of $119.68 and a 12-month high of $155.74.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, November 5th. The utilities provider reported $2.30 EPS for the quarter, beating the consensus estimate of $2.13 by $0.17. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.61 billion. DTE Energy had a return on equity of 12.17% and a net margin of 8.21%. During the same quarter in the prior year, the business posted $2.01 EPS. Analysts expect that DTE Energy will post 7.70 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, December 21st will be issued a $1.2450 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $1.1650. The ex-dividend date of this dividend is Monday, December 21st. This represents a $4.98 annualized dividend and a dividend yield of 3.7%. DTE Energy’s payout ratio is currently 75.91%.

Insider Buying and Selling at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the transaction, the insider owned 73,122 shares of the company’s stock, valued at $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DTE. Prosperity Consulting Group LLC increased its stake in shares of DTE Energy by 1.2% during the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock worth $927,000 after purchasing an additional 76 shares in the last quarter. IFG Advisory LLC lifted its stake in DTE Energy by 44.9% in the 3rd quarter. IFG Advisory LLC now owns 300 shares of the utilities provider’s stock valued at $37,000 after buying an additional 93 shares in the last quarter. Versant Capital Management Inc lifted its stake in DTE Energy by 5.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,756 shares of the utilities provider’s stock valued at $268,000 after buying an additional 94 shares in the last quarter. Old North State Wealth Management LLC lifted its stake in DTE Energy by 4.5% in the 3rd quarter. Old North State Wealth Management LLC now owns 2,556 shares of the utilities provider’s stock valued at $312,000 after buying an additional 110 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in DTE Energy by 2.2% in the 3rd quarter. D.A. Davidson & CO. now owns 5,415 shares of the utilities provider’s stock valued at $660,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

About DTE Energy

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state.

The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company’s investments in renewable energy generation.

DTE Energy traces its roots to Detroit Edison, founded in 1886.