Morgan Stanley Issues Pessimistic Forecast for DTE Energy (NYSE:DTE) Stock Price

DTE Energy (NYSE:DTE) had its price target reduced by Morgan Stanley from $136.00 to $134.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential downside of 1.77% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company increased their price target on DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. BMO Capital Markets increased their price target on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a report on Monday, April 21st. Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Finally, Guggenheim increased their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.93.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $136.41 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The business has a 50-day moving average price of $134.80 and a two-hundred day moving average price of $127.74. DTE Energy has a 1-year low of $108.40 and a 1-year high of $140.39. The company has a market cap of $28.31 billion, a P/E ratio of 20.15, a PEG ratio of 2.41 and a beta of 0.47.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $1.67 EPS. As a group, analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

Insider Transactions at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This trade represents a 33.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its position in DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock valued at $293,000 after acquiring an additional 336 shares in the last quarter. Jones Financial Companies Lllp lifted its position in DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after acquiring an additional 2,642 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in DTE Energy by 39.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock valued at $693,000 after acquiring an additional 1,618 shares in the last quarter. Patton Albertson Miller Group LLC lifted its position in DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after acquiring an additional 3,306 shares in the last quarter. Finally, M&T Bank Corp lifted its position in DTE Energy by 4.4% in the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock valued at $1,139,000 after acquiring an additional 395 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.