DTE Energy (NYSE:DTE) Receives $138.58 Consensus PT from Analysts

DTE Energy (NYSE:DTE) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $138.58.

DTE has been the subject of a number of research analyst reports. Scotiabank boosted their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lifted their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th.

DTE Energy Stock Performance

NYSE:DTE opened at $136.47 on Monday. The stock has a market capitalization of $28.32 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. 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 has a 1 year low of $103.06 and a 1 year high of $138.22. The firm has a 50 day moving average of $128.84 and a 200-day moving average of $125.26.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, sell-side analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.19%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Insiders Place Their Bets

In related news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction 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 sale, the senior vice president now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,877 shares of company stock worth $1,559,205. Company insiders own 0.33% of the company’s stock.

Institutional Trading of DTE Energy

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of DTE Energy by 16.0% during the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 336 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in DTE Energy by 72.3% during the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 2,642 shares in the last quarter. Nordea Investment Management AB increased its holdings in DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after purchasing an additional 211,763 shares in the last quarter. Patton Albertson Miller Group LLC raised its stake in shares of DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after purchasing an additional 3,306 shares during the period. Finally, Hancock Whitney Corp lifted its holdings in shares of DTE Energy by 80.0% in the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after purchasing an additional 5,725 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

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.