DTE Energy (NYSE:DTE) Price Target Cut to $120.00

DTE Energy (NYSE:DTE) had its price objective decreased by research analysts at Scotiabank from $129.00 to $120.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s target price points to a potential upside of 8.77% from the company’s previous close.

Several other analysts also recently weighed in on the company. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Morgan Stanley upped their target price on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. increased their price target on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. BMO Capital Markets lifted their price objective on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. Finally, KeyCorp lifted their target price on shares of DTE Energy from $106.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.10.

DTE Energy Stock Up 1.6 %

DTE Energy stock traded up $1.75 during midday trading on Monday, reaching $110.32. The company’s stock had a trading volume of 379,949 shares, compared to its average volume of 1,182,608. DTE Energy has a 52-week low of $90.14 and a 52-week high of $116.73. The stock has a market capitalization of $22.83 billion, a P/E ratio of 16.34, a PEG ratio of 2.70 and a beta of 0.64. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42. The stock’s 50-day simple moving average is $108.74 and its 200-day simple moving average is $105.77.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.96 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. During the same period last year, the firm posted $1.31 EPS. On average, sell-side analysts expect that DTE Energy will post 6.71 EPS for the current year.

Insider Activity

In related news, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at $743,200.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Robert A. Richard sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the sale, the chief operating officer now directly owns 26,118 shares in the company, valued at $2,801,155.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Matthew T. Paul sold 5,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total transaction of $625,482.00. Following the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $743,200.92. The disclosure for this sale can be found here. Insiders sold 20,095 shares of company stock worth $2,168,183 over the last three months. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC grew its holdings in shares of DTE Energy by 70.2% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,455 shares of the utilities provider’s stock worth $144,000 after purchasing an additional 600 shares during the period. SS&H Financial Advisors Inc. purchased a new stake in shares of DTE Energy in the 3rd quarter valued at approximately $735,000. Advisory Alpha LLC lifted its holdings in shares of DTE Energy by 7.2% in the 3rd quarter. Advisory Alpha LLC now owns 2,537 shares of the utilities provider’s stock worth $252,000 after acquiring an additional 170 shares during the last quarter. Secure Asset Management LLC boosted its position in shares of DTE Energy by 4.3% during the 3rd quarter. Secure Asset Management LLC now owns 7,561 shares of the utilities provider’s stock worth $751,000 after purchasing an additional 312 shares during the period. Finally, Oak Thistle LLC acquired a new stake in DTE Energy in the 3rd quarter valued at approximately $1,362,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.