DTE Energy (NYSE:DTE) Price Target Raised to $150.00

DTE Energy (NYSE:DTE) had its price target hoisted by BMO Capital Markets from $148.00 to $150.00 in a research note issued to investors on Wednesday, Marketbeat reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

A number of other brokerages also recently weighed in on DTE. Wells Fargo & Company reaffirmed an “overweight” rating and set a $165.00 price objective on shares of DTE Energy in a research report on Monday, June 15th. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. Truist Financial decreased their target price on DTE Energy from $165.00 to $158.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Morgan Stanley reissued an “overweight” rating on shares of DTE Energy in a report on Wednesday, July 22nd. Finally, Weiss Ratings lowered shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

DTE Energy Stock Performance

Shares of DTE opened at $141.94 on Wednesday. The stock has a market capitalization of $29.54 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.38. The business’s fifty day moving average price is $147.60 and its 200 day moving average price is $144.78. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.69. DTE Energy has a 12-month low of $126.23 and a 12-month high of $155.74.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.18. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the firm earned $1.36 earnings per share. Equities research analysts forecast that DTE Energy will post 7.71 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be paid a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. DTE Energy’s payout ratio is presently 73.73%.

Insider Buying and Selling

In other news, VP Lisa A. Muschong sold 1,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $143.72, for a total transaction of $143,720.00. Following the transaction, the vice president owned 6,233 shares in the company, valued at $895,806.76. This represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of DTE Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northside Capital Management LLC increased its position in DTE Energy by 0.5% in the 2nd quarter. Northside Capital Management LLC now owns 26,047 shares of the utilities provider’s stock worth $3,969,000 after buying an additional 121 shares during the period. Tema ETFs LLC lifted its holdings in shares of DTE Energy by 8.6% during the second quarter. Tema ETFs LLC now owns 3,679 shares of the utilities provider’s stock worth $561,000 after buying an additional 290 shares during the last quarter. William Mack & Associates Inc. boosted its position in shares of DTE Energy by 34.8% in the second quarter. William Mack & Associates Inc. now owns 4,615 shares of the utilities provider’s stock valued at $703,000 after acquiring an additional 1,192 shares during the period. Wealthcare Advisory Partners LLC boosted its position in shares of DTE Energy by 4.8% in the second quarter. Wealthcare Advisory Partners LLC now owns 5,538 shares of the utilities provider’s stock valued at $844,000 after acquiring an additional 253 shares during the period. Finally, Revolve Wealth Partners LLC grew its stake in shares of DTE Energy by 8.7% in the second quarter. Revolve Wealth Partners LLC now owns 1,519 shares of the utilities provider’s stock worth $231,000 after acquiring an additional 121 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

About DTE Energy

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.