LADENBURG THALM/SH SH Forecasts Strong Price Appreciation for DTE Energy (NYSE:DTE) Stock

DTE Energy (NYSE:DTE) had its price target increased by investment analysts at LADENBURG THALM/SH SH from $135.50 to $144.50 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. LADENBURG THALM/SH SH‘s price objective would suggest a potential upside of 6.85% from the stock’s current price.

A number of other equities research analysts have also weighed in on DTE. 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. Jefferies Financial Group set a $152.00 target price on shares of DTE Energy in a research note on Friday, October 23rd. Mizuho reduced their target price on shares of DTE Energy from $152.00 to $136.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Morgan Stanley reduced their target price on shares of DTE Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Finally, BMO Capital Markets lifted their price target on shares of DTE Energy from $134.00 to $139.00 and gave the company a “market perform” rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and a consensus target price of $148.58.

DTE Energy Stock Performance

DTE stock opened at $135.23 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.62 and a debt-to-equity ratio of 1.97. The business’s fifty day simple moving average is $130.16 and its two-hundred day simple moving average is $140.85. DTE Energy has a twelve month low of $119.68 and a twelve month high of $155.74. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.77 and a beta of 0.35.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, November 5th. The utilities provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.17. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.61 billion. DTE Energy had a return on equity of 12.17% and a net margin of 8.21%. During the same period last year, the company earned $2.01 earnings per share. Analysts predict that DTE Energy will post 7.70 earnings per share for the current year.

Insiders Place Their Bets

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the sale, the insider owned 73,122 shares in the company, valued at $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds have recently made changes to their positions in DTE. First Bancorp Inc ME purchased a new stake in DTE Energy during the 2nd quarter worth approximately $29,000. Community Bank N.A. purchased a new position in shares of DTE Energy in the second quarter worth $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of DTE Energy in the second quarter worth $35,000. Optiver Holding B.V. acquired a new stake in shares of DTE Energy during the first quarter worth $36,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of DTE Energy by 682.4% during the third quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock worth $32,000 after buying an additional 232 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

DTE Energy traces its roots to Detroit Edison, founded in 1886.