DTE Energy (NYSE:DTE) Price Target Cut to $120.00

DTE Energy (NYSE:DTE) had its price objective decreased by Scotiabank from $129.00 to $120.00 in a research report released on Monday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the utilities provider’s stock.

Several other analysts have also recently weighed in on DTE. KeyCorp raised their target price on shares of DTE Energy from $106.00 to $117.00 and gave the company an overweight rating in a report on Thursday, January 4th. Morgan Stanley raised their target price on shares of DTE Energy from $108.00 to $109.00 and gave the company an overweight rating in a report on Thursday, March 21st. Barclays raised their target price on shares of DTE Energy from $112.00 to $115.00 and gave the company an overweight rating in a report on Monday, April 15th. TheStreet raised shares of DTE Energy from a c+ rating to a b- rating in a report on Friday, March 15th. Finally, Guggenheim cut shares of DTE Energy from a buy rating to a neutral rating and set a $111.00 target price on the stock. in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $115.10.

DTE Energy Trading Down 0.4 %

NYSE DTE opened at $111.14 on Monday. The firm has a 50 day simple moving average of $109.12 and a 200-day simple moving average of $106.06. 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 has a one year low of $90.14 and a one year high of $116.73. The firm has a market cap of $23.00 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.74 and a beta of 0.64.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.97 EPS 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 analyst estimates of $4.97 billion. During the same quarter last year, the firm posted $1.31 earnings per share. Equities research analysts anticipate that DTE Energy will post 6.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a yield of 3.67%. DTE Energy’s payout ratio is currently 60.36%.

Insider Transactions at DTE Energy

In other news, COO Matthew T. Paul sold 5,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at $743,200.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $743,200.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,095 shares of company stock worth $2,168,183. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of DTE. MV Capital Management Inc. grew its position in DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after buying an additional 143 shares during the last quarter. Rise Advisors LLC boosted its position in shares of DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares in the last quarter. Denali Advisors LLC purchased a new stake in shares of DTE Energy during the 1st quarter worth $34,000. Milestone Investment Advisors LLC purchased a new stake in shares of DTE Energy during the 3rd quarter worth $36,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of DTE Energy during the 3rd quarter worth $37,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

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.