Barclays Increases DTE Energy (NYSE:DTE) Price Target to $115.00

DTE Energy (NYSE:DTE) had its target price raised by Barclays from $112.00 to $115.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

DTE has been the subject of several other reports. KeyCorp increased their price target on shares of DTE Energy from $106.00 to $117.00 and gave the stock an overweight rating in a research note on Thursday, January 4th. BMO Capital Markets decreased their price target on shares of DTE Energy from $113.00 to $111.00 and set a market perform rating for the company in a research note on Monday, February 12th. JPMorgan Chase & Co. increased their price target on shares of DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. TheStreet upgraded shares of DTE Energy from a c+ rating to a b- rating in a research note on Friday, March 15th. Finally, Morgan Stanley raised their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the company an overweight rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $114.56.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $106.48 on Monday. DTE Energy has a 52-week low of $90.14 and a 52-week high of $116.73. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. The company has a fifty day moving average of $108.66 and a 200-day moving average of $105.56. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.01. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the prior year, the company posted $1.31 EPS. Equities research analysts expect that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were issued a $1.02 dividend. The ex-dividend date was Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.83%. DTE Energy’s payout ratio is 60.36%.

Insider Activity at DTE Energy

In related news, SVP Joann Chavez sold 6,070 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total value of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares in the company, valued at $1,819,869.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the sale, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at approximately $370,572.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joann Chavez sold 6,070 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the sale, the senior vice president now directly owns 16,667 shares in the company, valued at approximately $1,819,869.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,095 shares of company stock worth $2,168,183. Company insiders own 0.61% of the company’s stock.

Institutional Trading of DTE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in DTE. Rise Advisors LLC raised its stake in DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 129 shares during the last quarter. MV Capital Management Inc. raised its stake in DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 143 shares during the last quarter. Farther Finance Advisors LLC raised its stake in DTE Energy by 180.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 328 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 211 shares during the last quarter. Milestone Investment Advisors LLC purchased a new position in DTE Energy in the 3rd quarter worth $36,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in DTE Energy in the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About DTE Energy

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.