DTE Energy (NYSE:DTE) Price Target Raised to $153.00

DTE Energy (NYSE:DTE) had its price target increased by Jefferies Financial Group from $150.00 to $153.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

DTE has been the subject of several other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday, January 21st. Wells Fargo & Company decreased their target price on DTE Energy from $157.00 to $152.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. JPMorgan Chase & Co. lowered their price target on DTE Energy from $151.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, December 11th. Scotiabank cut their price objective on shares of DTE Energy from $147.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Finally, Barclays reduced their price objective on shares of DTE Energy from $148.00 to $141.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $147.62.

DTE Energy Price Performance

Shares of DTE opened at $134.17 on Wednesday. The firm has a market capitalization of $27.86 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.47 and a beta of 0.49. The firm’s fifty day simple moving average is $131.98 and its 200-day simple moving average is $136.11. DTE Energy has a twelve month low of $118.20 and a twelve month high of $143.79. The company has a current ratio of 1.15, a quick ratio of 0.68 and a debt-to-equity ratio of 2.01.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, October 30th. The utilities provider reported $2.25 EPS for the quarter, beating the consensus estimate of $2.10 by $0.15. DTE Energy had a return on equity of 12.63% and a net margin of 9.34%.The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the company posted $2.22 earnings per share. Equities analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a $1.165 dividend. The ex-dividend date of this dividend was Monday, December 15th. This is an increase from DTE Energy’s previous quarterly dividend of $1.09. This represents a $4.66 annualized dividend and a dividend yield of 3.5%. DTE Energy’s dividend payout ratio is currently 69.97%.

Institutional Trading of DTE Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Laurel Wealth Advisors LLC acquired a new position in DTE Energy in the fourth quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted its stake in shares of DTE Energy by 754.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after buying an additional 181 shares during the period. Torren Management LLC purchased a new position in shares of DTE Energy during the fourth quarter worth about $26,000. Global Wealth Strategies & Associates acquired a new position in DTE Energy in the 3rd quarter valued at about $28,000. Finally, Clean Yield Group acquired a new position in DTE Energy in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors 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.