DTE Energy (NYSE:DTE) Price Target Raised to $140.00

DTE Energy (NYSE:DTE) had its price target increased by BMO Capital Markets from $135.00 to $140.00 in a research report report published on Friday, Marketbeat.com reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

Other analysts have also issued reports about the company. Bank of America increased their target price on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH started coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective on the stock. Barclays raised their target price on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Scotiabank upped their price target on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Mizuho increased their price target on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Six equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.38.

DTE Energy Stock Performance

DTE opened at $127.95 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The company has a market capitalization of $26.48 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The business has a fifty day simple moving average of $125.23 and a 200 day simple moving average of $117.45. DTE Energy has a 1 year low of $92.58 and a 1 year high of $129.53.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. Research analysts expect that DTE Energy will post 6.7 EPS for the current year.

Hedge Funds Weigh In On DTE Energy

Several large investors have recently modified their holdings of the business. Capital Research Global Investors lifted its stake in shares of DTE Energy by 1.2% in the first quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after acquiring an additional 261,623 shares during the period. Ameriprise Financial Inc. raised its holdings in DTE Energy by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after purchasing an additional 86,205 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after purchasing an additional 1,756,459 shares during the period. Janus Henderson Group PLC boosted its stake in shares of DTE Energy by 6,964.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after purchasing an additional 2,060,762 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of DTE Energy by 3.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock worth $185,066,000 after buying an additional 59,811 shares during the period. Institutional investors own 76.06% of the company’s stock.

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.