DTE Energy (NYSE:DTE) Given New $143.00 Price Target at BMO Capital Markets

DTE Energy (NYSE:DTE) had its price target dropped by BMO Capital Markets from $150.00 to $143.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 5.06% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley reduced their target price on DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Mizuho reduced their price objective on shares of DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays decreased their target price on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, TD Cowen started coverage on shares of DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

DTE Energy Stock Performance

DTE Energy stock opened at $136.11 on Friday. The firm has a 50 day simple moving average of $145.21 and a 200-day simple moving average of $145.37. The stock has a market cap of $28.32 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.99 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. DTE Energy has a 1-year low of $126.23 and a 1-year high of $155.74.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the company earned $1.36 EPS. On average, analysts expect that DTE Energy will post 7.71 EPS for the current year.

Institutional Trading of DTE Energy

Several hedge funds have recently made changes to their positions in DTE. California State Teachers Retirement System grew its holdings in shares of DTE Energy by 15,158.5% in the second quarter. California State Teachers Retirement System now owns 36,841,390 shares of the utilities provider’s stock valued at $5,613,523,000 after purchasing an additional 36,599,942 shares in the last quarter. BlackRock Inc. acquired a new stake in DTE Energy during the 2nd quarter worth approximately $3,915,284,000. Jupiter Topco LLC purchased a new position in DTE Energy in the 2nd quarter valued at approximately $477,264,000. Bank of America Corp DE purchased a new position in DTE Energy in the 2nd quarter valued at approximately $417,001,000. Finally, Millennium Management LLC grew its stake in shares of DTE Energy by 227.4% in the fourth quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after acquiring an additional 1,895,631 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.