DTE Energy Company (NYSE:DTE) Stock Has Consensus Target Price of $148.58 According to Brokerages

Shares of DTE Energy Company (NYSE:DTE) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $148.58.

Several research firms have recently weighed in on DTE. Truist Financial set a $139.00 target price on shares of DTE Energy in a report on Friday, October 16th. Ladenburg Thalmann & Co. Inc. boosted their price target on shares of DTE Energy from $135.50 to $144.50 and gave the company a “buy” rating in a research report on Friday, November 6th. Jefferies Financial Group set a $152.00 price objective on shares of DTE Energy in a research note on Friday, October 23rd. HSBC began coverage on shares of DTE Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $135.00 price objective for the company. Finally, Weiss Ratings downgraded DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th.

Insider Transactions at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm’s stock in a transaction on 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 directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornermen Financial LLC bought a new position in shares of DTE Energy in the 3rd quarter valued at about $201,000. Empowered Funds LLC grew its position in shares of DTE Energy by 12.3% during the 3rd quarter. Empowered Funds LLC now owns 5,787 shares of the utilities provider’s stock worth $705,000 after buying an additional 634 shares during the period. Advisory Alpha LLC raised its stake in shares of DTE Energy by 3.8% during the third quarter. Advisory Alpha LLC now owns 5,919 shares of the utilities provider’s stock worth $721,000 after buying an additional 217 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of DTE Energy by 3.0% during the third quarter. Steward Partners Investment Advisory LLC now owns 10,599 shares of the utilities provider’s stock worth $1,291,000 after buying an additional 304 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of DTE Energy by 8.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 171,375 shares of the utilities provider’s stock worth $20,873,000 after buying an additional 13,927 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Up 0.4%

NYSE DTE opened at $139.69 on Friday. DTE Energy has a 1-year low of $119.68 and a 1-year high of $155.74. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 2.86 and a beta of 0.35. The stock’s 50 day moving average is $130.47 and its two-hundred day moving average is $140.93. 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 (NYSE:DTE) last posted its earnings results on Thursday, November 5th. The utilities provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.13 by $0.17. DTE Energy had a return on equity of 12.17% and a net margin of 8.21%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the company earned $2.01 EPS. Equities analysts forecast that DTE Energy will post 7.70 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, December 21st will be issued a dividend of $1.2450 per share. The ex-dividend date of this dividend is Monday, December 21st. This represents a $4.98 dividend on an annualized basis and a yield of 3.6%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.1650. DTE Energy’s payout ratio is 71.04%.

DTE Energy Company Profile

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.