DTE Energy (DTE) Given a $123.00 Price Target at Macquarie

DTE Energy (NYSE:DTE) has been given a $123.00 target price by analysts at Macquarie in a research note issued on Saturday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Macquarie’s price target suggests a potential upside of 3.74% from the stock’s current price.

Several other research firms have also issued reports on DTE. Citigroup increased their price objective on shares of DTE Energy from $110.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, December 10th. ValuEngine upgraded shares of DTE Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Credit Suisse Group downgraded shares of DTE Energy from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $109.00 to $111.00 in a research report on Thursday, October 25th. Finally, Bank of America lifted their price target on shares of DTE Energy from $101.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $117.25.

Shares of NYSE DTE opened at $118.56 on Friday. DTE Energy has a 1-year low of $94.25 and a 1-year high of $121.00. The stock has a market capitalization of $21.57 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 3.19 and a beta of 0.27. The company has a quick ratio of 0.55, a current ratio of 0.73 and a debt-to-equity ratio of 1.13.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, February 7th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $2.35 billion. DTE Energy had a net margin of 7.88% and a return on equity of 10.85%. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, equities research analysts anticipate that DTE Energy will post 6.19 earnings per share for the current year.

In other DTE Energy news, CAO Jeffrey A. Jewell sold 4,190 shares of DTE Energy stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $120.00, for a total value of $502,800.00. Following the sale, the chief accounting officer now owns 11,738 shares of the company’s stock, valued at approximately $1,408,560. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gerard M. Anderson sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $119.73, for a total value of $1,197,300.00. Following the completion of the sale, the chairman now directly owns 84,858 shares in the company, valued at approximately $10,160,048.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,040 shares of company stock worth $1,919,640. Corporate insiders own 0.59% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in shares of DTE Energy by 17.0% in the 3rd quarter. Capital World Investors now owns 16,272,144 shares of the utilities provider’s stock worth $1,775,779,000 after purchasing an additional 2,367,000 shares during the period. BlackRock Inc. boosted its holdings in DTE Energy by 3.9% during the 4th quarter. BlackRock Inc. now owns 15,212,035 shares of the utilities provider’s stock valued at $1,677,888,000 after acquiring an additional 577,066 shares during the period. Renaissance Technologies LLC boosted its holdings in DTE Energy by 17.8% during the 3rd quarter. Renaissance Technologies LLC now owns 2,969,900 shares of the utilities provider’s stock valued at $324,105,000 after acquiring an additional 447,750 shares during the period. Morgan Stanley boosted its holdings in DTE Energy by 69.7% during the 3rd quarter. Morgan Stanley now owns 771,744 shares of the utilities provider’s stock valued at $84,221,000 after acquiring an additional 316,990 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in DTE Energy by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,856,235 shares of the utilities provider’s stock valued at $2,166,911,000 after acquiring an additional 311,679 shares during the period. 74.33% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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