BMO Capital Markets Cuts DTE Energy (NYSE:DTE) Price Target to $143.00

DTE Energy (NYSE:DTE) had its price objective decreased by BMO Capital Markets from $150.00 to $143.00 in a research note issued to investors on Friday, Marketbeat.com reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. Morgan Stanley cut their target price on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Truist Financial decreased their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a report on Thursday, July 9th. Finally, Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.00.

DTE Energy Trading Down 0.1%

Shares of DTE stock opened at $135.75 on Friday. DTE Energy has a fifty-two week low of $126.23 and a fifty-two week high of $155.74. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The stock has a 50 day simple moving average of $144.97 and a two-hundred day simple moving average of $145.37. The company has a market cap of $28.25 billion, a P/E ratio of 21.48, a PEG ratio of 2.95 and a beta of 0.38.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same period in the prior year, the business earned $1.36 EPS. Research analysts forecast that DTE Energy will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is presently 73.73%.

Institutional Trading of DTE Energy

Several hedge funds have recently bought and sold shares of DTE. Laurel Wealth Advisors LLC acquired a new position in DTE Energy during the fourth quarter worth $25,000. Torren Management LLC acquired a new position in shares of DTE Energy during the fourth quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in shares of DTE Energy during the fourth quarter valued at about $29,000. Key Financial Inc bought a new stake in shares of DTE Energy during the first quarter worth about $29,000. Finally, First Bancorp Inc ME bought a new stake in shares of DTE Energy during the second quarter worth about $29,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Company Profile

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.