DTE Energy (NYSE:DTE) Price Target Lowered to $120.00 at Scotiabank

DTE Energy (NYSE:DTE) had its target price cut by Scotiabank from $129.00 to $120.00 in a research note released on Monday morning, Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of DTE Energy from $112.00 to $115.00 and gave the company an overweight rating in a research report on Monday, April 15th. TheStreet upgraded shares of DTE Energy from a c+ rating to a b- rating in a research note on Friday, March 15th. Morgan Stanley boosted their price target on shares of DTE Energy from $108.00 to $109.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. Guggenheim lowered shares of DTE Energy from a buy rating to a neutral rating and set a $111.00 price target on the stock. in a research note on Monday, January 22nd. Finally, BMO Capital Markets boosted their price target on shares of DTE Energy from $111.00 to $113.00 and gave the stock a market perform rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $115.10.

DTE Energy Trading Up 1.4 %

NYSE DTE opened at $110.12 on Monday. The firm’s 50-day moving average is $108.81 and its two-hundred day moving average is $105.88. DTE Energy has a 12 month low of $90.14 and a 12 month high of $116.73. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42. The stock has a market capitalization of $22.79 billion, a P/E ratio of 16.29, a PEG ratio of 2.70 and a beta of 0.64.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. On average, sell-side analysts anticipate that DTE Energy will post 6.71 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.71%. DTE Energy’s payout ratio is 60.36%.

Insider Buying and Selling

In related news, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the sale, the chief operating officer now directly owns 26,118 shares in the company, valued at $2,801,155.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the sale, the chief operating officer now owns 26,118 shares of the company’s stock, valued at $2,801,155.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 6,070 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the sale, the senior vice president now directly owns 16,667 shares in the company, valued at approximately $1,819,869.73. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,095 shares of company stock worth $2,168,183. Company insiders own 0.28% of the company’s stock.

Institutional Trading of DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Impact Partnership Wealth LLC raised its holdings in DTE Energy by 70.2% during the third quarter. Impact Partnership Wealth LLC now owns 1,455 shares of the utilities provider’s stock worth $144,000 after purchasing an additional 600 shares in the last quarter. SS&H Financial Advisors Inc. purchased a new position in shares of DTE Energy during the third quarter worth approximately $735,000. Advisory Alpha LLC grew its position in shares of DTE Energy by 7.2% during the third quarter. Advisory Alpha LLC now owns 2,537 shares of the utilities provider’s stock worth $252,000 after acquiring an additional 170 shares during the last quarter. Secure Asset Management LLC grew its position in shares of DTE Energy by 4.3% during the third quarter. Secure Asset Management LLC now owns 7,561 shares of the utilities provider’s stock worth $751,000 after acquiring an additional 312 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of DTE Energy during the third quarter worth approximately $1,362,000. Institutional investors and hedge funds 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.