DTE Energy (NYSE:DTE) Price Target Raised to $145.00 at Evercore ISI

DTE Energy (NYSE:DTE) had its price objective raised by Evercore ISI from $136.00 to $145.00 in a report released on Friday,Benzinga reports. Evercore ISI currently has an outperform rating on the utilities provider’s stock.

A number of other analysts have also commented on DTE. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. BMO Capital Markets boosted their price target on shares of DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research report on Monday, April 21st. Guggenheim raised their price objective on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Morgan Stanley raised their price target on DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and a consensus price target of $140.31.

DTE Energy Price Performance

Shares of NYSE DTE opened at $136.35 on Friday. The company has a fifty day moving average price of $133.83 and a 200 day moving average price of $126.71. DTE Energy has a 1-year low of $108.40 and a 1-year high of $140.39. The firm has a market cap of $28.29 billion, a PE ratio of 20.14, a PEG ratio of 2.41 and a beta of 0.49. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the firm earned $1.67 earnings per share. Research analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Insider Transactions at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is owned by insiders.

Institutional Trading of DTE Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cloud Capital Management LLC bought a new position in shares of DTE Energy during the first quarter worth approximately $25,000. Olde Wealth Management LLC bought a new position in DTE Energy during the 1st quarter worth $27,000. Mattson Financial Services LLC acquired a new position in DTE Energy in the 4th quarter valued at $38,000. Financial Gravity Asset Management Inc. bought a new stake in shares of DTE Energy during the 1st quarter valued at $41,000. Finally, Versant Capital Management Inc lifted its position in shares of DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the period. Institutional investors and hedge funds 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.