Morgan Stanley Cuts DTE Energy (NYSE:DTE) Price Target to $128.00

DTE Energy (NYSE:DTE) had its price target trimmed by Morgan Stanley from $131.00 to $128.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Scotiabank boosted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Mizuho upped their target price on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. BMO Capital Markets upped their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group initiated coverage on shares of DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 target price for the company. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.46.

DTE Energy Stock Performance

NYSE:DTE opened at $124.60 on Friday. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week high of $131.66. The firm has a market capitalization of $25.80 billion, a PE ratio of 16.88, a PEG ratio of 2.29 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock’s fifty day moving average is $124.66 and its 200 day moving average is $119.70.

Hedge Funds Weigh In On DTE Energy

A number of institutional investors have recently modified their holdings of DTE. Legacy Investment Solutions LLC acquired a new stake in DTE Energy during the third quarter worth about $30,000. Prospera Private Wealth LLC purchased a new stake in DTE Energy in the 3rd quarter worth approximately $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy during the 3rd quarter worth approximately $35,000. Ridgewood Investments LLC purchased a new position in shares of DTE Energy during the 2nd quarter valued at approximately $31,000. Finally, Coastline Trust Co acquired a new position in shares of DTE Energy in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors 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.