BMO Capital Markets Increases DTE Energy (NYSE:DTE) Price Target to $135.00

DTE Energy (NYSE:DTE) had its target price lifted by research analysts at BMO Capital Markets from $126.00 to $135.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 9.20% from the company’s current price.

Several other research firms have also recently commented on DTE. Wells Fargo & Company upped their price target on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Scotiabank upped their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Bank of America upped their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Barclays upped their price objective on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.92.

DTE Energy Price Performance

Shares of NYSE DTE opened at $123.63 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. DTE Energy has a twelve month low of $90.14 and a twelve month high of $127.59. The stock has a 50 day moving average of $118.60 and a two-hundred day moving average of $113.69. The stock has a market cap of $25.58 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.29 and a beta of 0.66.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, research analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

Institutional Investors Weigh In On DTE Energy

Large investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its holdings in DTE Energy by 26.1% during the 4th quarter. Private Advisor Group LLC now owns 11,486 shares of the utilities provider’s stock valued at $1,266,000 after buying an additional 2,380 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of DTE Energy during the fourth quarter valued at $273,000. Charles Schwab Investment Management Inc. increased its position in DTE Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,208,462 shares of the utilities provider’s stock worth $133,245,000 after purchasing an additional 27,611 shares in the last quarter. Principal Securities Inc. acquired a new position in DTE Energy in the 4th quarter valued at about $54,000. Finally, BNP Paribas Financial Markets lifted its holdings in DTE Energy by 37.5% in the 4th quarter. BNP Paribas Financial Markets now owns 164,749 shares of the utilities provider’s stock valued at $18,165,000 after purchasing an additional 44,946 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

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.