DTE Energy (NYSE:DTE) Receives $116.78 Average Target Price from Analysts

Shares of DTE Energy (NYSE:DTE) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $116.78.

Several analysts have recently weighed in on DTE shares. Morgan Stanley decreased their price objective on DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. BMO Capital Markets lifted their price objective on DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday, July 15th. Scotiabank cut their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Barclays raised their target price on DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, KeyCorp raised their target price on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $115.90 on Wednesday. DTE Energy has a 1-year low of $90.14 and a 1-year high of $118.58. The firm has a market capitalization of $23.98 billion, a PE ratio of 18.97, a PEG ratio of 2.11 and a beta of 0.66. The business’s 50 day moving average is $112.96 and its 200-day moving average is $110.18. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. Sell-side analysts predict that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.52%. DTE Energy’s payout ratio is 66.78%.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the transaction, the vice president now owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,698 shares of company stock worth $1,702,444. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in DTE. Janus Henderson Group PLC raised its position in shares of DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after acquiring an additional 2,060,762 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of DTE Energy by 224.7% during the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after acquiring an additional 1,756,459 shares during the last quarter. Boston Partners raised its position in shares of DTE Energy by 66.8% during the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after acquiring an additional 1,018,212 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of DTE Energy during the fourth quarter worth $74,478,000. Finally, Capital Research Global Investors raised its position in shares of DTE Energy by 1.9% during the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after acquiring an additional 399,646 shares during the last quarter. 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.