DTE Energy (NYSE:DTE) PT Raised to $119.00 at Barclays

DTE Energy (NYSE:DTE) had its target price hoisted by Barclays from $115.00 to $119.00 in a research note published on Tuesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other analysts have also recently issued reports on the stock. Guggenheim cut shares of DTE Energy from a buy rating to a neutral rating and set a $111.00 price objective for the company. in a research note on Monday, January 22nd. Morgan Stanley upped their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Wolfe Research lowered shares of DTE Energy from an outperform rating to a peer perform rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, March 13th. Finally, Scotiabank dropped their target price on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, DTE Energy presently has a consensus rating of Moderate Buy and a consensus target price of $115.50.

DTE Energy Stock Performance

Shares of DTE traded up $0.89 during mid-day trading on Tuesday, hitting $112.80. 1,021,105 shares of the company traded hands, compared to its average volume of 1,185,573. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The stock has a 50-day moving average price of $109.41 and a two-hundred day moving average price of $106.53. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73. The stock has a market cap of $23.34 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 2.77 and a beta of 0.64.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Equities analysts anticipate that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Activity

In other news, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 6,070 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares of the company’s stock, valued at $1,819,869.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,095 shares of company stock worth $2,168,183. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of DTE Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Glenmede Trust Co. NA lifted its stake in DTE Energy by 0.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock valued at $12,815,000 after acquiring an additional 1,106 shares during the period. Raymond James & Associates increased its holdings in shares of DTE Energy by 6.5% during the 4th quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock valued at $23,098,000 after purchasing an additional 12,871 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of DTE Energy by 273.2% during the 4th quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock valued at $5,300,000 after purchasing an additional 35,189 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of DTE Energy by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,737 shares of the utilities provider’s stock valued at $4,271,000 after purchasing an additional 7,975 shares in the last quarter. Finally, Arvest Investments Inc. purchased a new position in shares of DTE Energy during the 4th quarter valued at approximately $2,581,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

About DTE Energy

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.