DTE Energy (NYSE:DTE) Price Target Raised to $134.00

DTE Energy (NYSE:DTE) had its price objective boosted by BMO Capital Markets from $132.00 to $134.00 in a research note published on Monday morning, MarketBeat.com reports. They currently have a market perform rating on the utilities provider’s stock.

Other research analysts have also recently issued reports about the stock. Truist Financial dropped their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings downgraded shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price target on shares of DTE Energy in a research note on Monday, June 15th. Morgan Stanley lowered their price target on shares of DTE Energy from $148.00 to $141.00 and set an “overweight” rating on the stock in a report on Friday, September 18th. Finally, Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $154.54.

DTE Energy Trading Down 0.9%

Shares of DTE Energy stock opened at $127.11 on Monday. The firm has a market cap of $26.45 billion, a PE ratio of 20.11, a P/E/G ratio of 2.53 and a beta of 0.36. DTE Energy has a 1 year low of $119.68 and a 1 year high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The stock has a fifty day moving average price of $133.45 and a 200-day moving average price of $142.00.

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

Insider Transactions at DTE Energy

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the sale, the insider directly owned 73,122 shares of the company’s stock, valued at $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

Large investors have recently modified their holdings of the business. Key Financial Inc purchased a new stake in shares of DTE Energy during the 1st quarter valued at approximately $29,000. First Bancorp Inc ME bought a new position in DTE Energy in the 2nd quarter worth approximately $29,000. Community Bank N.A. purchased a new position in DTE Energy in the 2nd quarter valued at approximately $31,000. Elevation Wealth Partners LLC grew its stake in DTE Energy by 682.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock valued at $32,000 after buying an additional 232 shares in the last quarter. Finally, SHP Wealth Management bought a new stake in DTE Energy during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About DTE Energy

DTE Energy Company is a diversified energy company headquartered in Detroit, Michigan. Through its regulated utility operations, the company generates, transmits and distributes electricity and purchases, stores, transports and distributes natural gas. Its utility services primarily support residential, commercial and industrial customers across southeastern Michigan.

DTE Energy also operates businesses involved in energy-related products and services, including renewable energy, energy management, power and industrial projects, and other nonutility activities.