Morgan Stanley Increases DTE Energy (NYSE:DTE) Price Target to $136.00

DTE Energy (NYSE:DTE) had its target price upped by equities research analysts at Morgan Stanley from $131.00 to $136.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential downside of 0.86% from the company’s previous close.

DTE has been the topic of several other research reports. Scotiabank lifted their price target 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 raised shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, BMO Capital Markets boosted their target price on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Stock Performance

DTE Energy stock opened at $137.18 on Thursday. DTE Energy has a 12-month low of $103.06 and a 12-month high of $138.22. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The firm’s fifty day moving average price is $127.38 and its 200 day moving average price is $124.87.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. On average, research analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

Insider Transactions at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the sale, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.61% of the company’s stock.

Institutional Trading of DTE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SkyOak Wealth LLC raised its holdings in shares of DTE Energy by 4.1% during the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 85 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of DTE Energy by 8.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 90 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 92 shares during the period. Tidal Investments LLC raised its holdings in shares of DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 96 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in shares of DTE Energy by 2.3% during the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after acquiring an additional 96 shares during the period. 76.06% of the stock is currently owned by institutional investors.

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.