DTE Energy Co. (NYSE:DTE) had its price target raised by stock analysts at Macquarie from $105.00 to $107.00 in a research report issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price indicates a potential upside of 12.77% from the company’s current price.
The analysts wrote, “We see these assets as attractive strategically given their location, contracts, diversified list of customers, potential for expansion and interconnection with DTE’s existing systems,” analyst Andrew Weisel wrote in a note.”We estimate these deals will add US$0.04/sh (+0.8 percent) in ’17 and US$0.15/sh (+2.3 percent) by ’20, ahead of DTE guidance of US$0.10. We assume a 50/50 debt/equity mix, 12 percent IRR and 10 percent annual growth,”
Other research analysts have also issued reports about the company. Zacks Investment Research lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. BMO Capital Markets reaffirmed a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. KeyCorp reaffirmed an “outperform” rating and set a $102.50 target price (up from $97.00) on shares of DTE Energy in a report on Saturday, July 2nd. Finally, Barclays PLC reaffirmed a “buy” rating and set a $108.00 target price on shares of DTE Energy in a report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $103.20.
DTE Energy (NYSE:DTE) opened at 94.88 on Tuesday. DTE Energy has a one year low of $77.35 and a one year high of $100.45. The stock has a 50 day moving average of $94.27 and a 200-day moving average of $92.94. The firm has a market capitalization of $17.02 billion, a PE ratio of 22.91 and a beta of 0.26.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. DTE Energy had a return on equity of 10.00% and a net margin of 7.51%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, equities analysts predict that DTE Energy will post $5.07 EPS for the current year.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $97.96, for a total value of $1,714,300.00. Following the completion of the transaction, the chairman now owns 77,500 shares in the company, valued at approximately $7,591,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in DTE. Advisory Services Network LLC raised its position in DTE Energy by 0.3% in the second quarter. Advisory Services Network LLC now owns 3,239 shares of the company’s stock worth $321,000 after buying an additional 9 shares during the period. Peddock Capital Advisors LLC raised its position in DTE Energy by 0.7% in the second quarter. Peddock Capital Advisors LLC now owns 4,723 shares of the company’s stock worth $468,000 after buying an additional 35 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in DTE Energy by 0.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,695 shares of the company’s stock worth $564,000 after buying an additional 37 shares during the period. TCI Wealth Advisors Inc. raised its position in DTE Energy by 2.6% in the second quarter. TCI Wealth Advisors Inc. now owns 1,486 shares of the company’s stock worth $147,000 after buying an additional 37 shares during the period. Finally, CWM LLC raised its position in DTE Energy by 2.2% in the second quarter. CWM LLC now owns 2,355 shares of the company’s stock worth $233,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.
DTE Energy Company Profile
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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