DTE Energy (NYSE:DTE) Stock Price Target Raised at LADENBURG THALM/SH SH

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

Several other brokerages have also issued reports on DTE. Mizuho dropped their price target on DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. Truist Financial set a $139.00 price objective on DTE Energy in a report on Friday, October 16th. Jefferies Financial Group set a $152.00 price objective on DTE Energy in a research report on Friday, October 23rd. HSBC initiated coverage on DTE Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $135.00 price objective on the stock. Finally, Weiss Ratings downgraded DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average price target of $148.58.

DTE Energy Stock Performance

DTE Energy stock opened at $135.23 on Friday. DTE Energy has a fifty-two week low of $119.68 and a fifty-two week high of $155.74. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.40 and a current ratio of 0.62. The stock has a market cap of $28.14 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.77 and a beta of 0.35. The firm’s fifty day moving average price is $130.16 and its 200-day moving average price is $140.85.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, November 5th. The utilities provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.17. DTE Energy had a net margin of 8.21% and a return on equity of 12.17%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the business earned $2.01 earnings per share. On average, equities research analysts expect that DTE Energy will post 7.70 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The business 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. This represents a $4.98 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, December 21st. DTE Energy’s dividend payout ratio (DPR) is presently 75.91%.

Insider Activity at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the sale, the insider owned 73,122 shares of the company’s stock, valued at approximately $9,923,386.62. The trade was a 6.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in DTE Energy in the second quarter worth about $3,915,284,000. Jupiter Topco LLC purchased a new stake in DTE Energy in the second quarter worth about $477,264,000. Janus Henderson Group PLC boosted its position in DTE Energy by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock valued at $451,022,000 after acquiring an additional 40,346 shares in the last quarter. Bank of America Corp DE bought a new stake in DTE Energy during the 2nd quarter valued at approximately $417,001,000. Finally, Soroban Capital Partners LP boosted its position in DTE Energy by 2.0% during the 1st quarter. Soroban Capital Partners LP now owns 2,038,473 shares of the utilities provider’s stock valued at $298,066,000 after acquiring an additional 39,963 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

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.