DTE Energy (NYSE:DTE) PT Raised to $138.00 at KeyCorp

DTE Energy (NYSE:DTE) had its price target boosted by KeyCorp from $136.00 to $138.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for DTE Energy’s Q3 2024 earnings at $1.98 EPS, Q4 2024 earnings at $1.76 EPS and FY2028 earnings at $9.17 EPS.

A number of other brokerages have also recently commented on DTE. Wells Fargo & Company raised their target price on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of DTE Energy in a report on Monday. They set a “hold” rating and a $137.00 target price on the stock. Barclays boosted their price target on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average price target of $130.54.

DTE Energy Price Performance

Shares of DTE opened at $129.74 on Tuesday. The firm has a 50-day simple moving average of $125.52 and a two-hundred day simple moving average of $117.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. DTE Energy has a 1-year low of $92.58 and a 1-year high of $131.66. The stock has a market cap of $26.85 billion, a PE ratio of 21.23, a P/E/G ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, October 24th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.35. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3.17 billion. As a group, analysts forecast that DTE Energy will post 6.7 EPS for the current year.

Institutional Investors Weigh In On DTE Energy

Several large investors have recently modified their holdings of DTE. ESL Trust Services LLC purchased a new position in DTE Energy in the 1st quarter valued at $27,000. Ridgewood Investments LLC acquired a new stake in shares of DTE Energy in the 2nd quarter worth $31,000. Denali Advisors LLC purchased a new stake in shares of DTE Energy in the first quarter valued at about $34,000. Salomon & Ludwin LLC increased its stake in shares of DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 195 shares during the period. Finally, Fairscale Capital LLC acquired a new position in shares of DTE Energy during the second quarter worth about $54,000. Hedge funds and other 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.