DTE Energy (NYSE:DTE) Given New $134.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised its DTE Energy price target from $132 to $134 while maintaining a “market perform” rating, implying 7.73% upside from the stock’s $124.39 opening price.
• Analyst sentiment remains generally positive, with DTE carrying a “Moderate Buy” consensus rating and an average price target of $154.54.
• DTE exceeded quarterly earnings expectations, reporting $1.32 EPS versus the $1.14 consensus estimate, while institutional investors own approximately 76.06% of the company.

DTE Energy (NYSE:DTE - Get Free Report) had its price objective upped by stock analysts at BMO Capital Markets from $132.00 to $134.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a "market perform" rating on the utilities provider's stock. BMO Capital Markets' price objective would suggest a potential upside of 7.73% from the company's current price.

Several other research analysts have also recently commented on DTE. Wells Fargo & Company restated an "overweight" rating and set a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. TD Cowen started coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price target on the stock. Morgan Stanley reduced their price objective on shares of DTE Energy from $148.00 to $141.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. JPMorgan Chase & Co. raised their price objective on DTE Energy from $155.00 to $162.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group set a $172.00 target price on DTE Energy in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $154.54.

DTE Energy Stock Down 0.1%

Shares of DTE Energy stock opened at $124.39 on Monday. The firm has a market cap of $25.88 billion, a PE ratio of 19.68, a P/E/G ratio of 2.45 and a beta of 0.36. The business's 50 day simple moving average is $134.58 and its 200 day simple moving average is $142.44. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy has a 52-week low of $119.68 and a 52-week high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the prior year, the firm posted $1.36 EPS. On average, analysts predict that DTE Energy will post 7.71 earnings per share for the current fiscal year.

Insider Activity at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider directly owned 73,122 shares in the company, valued at $9,923,386.62. The trade was a 6.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of DTE. GoalVest Advisory LLC raised its stake in DTE Energy by 2.9% in the third quarter. GoalVest Advisory LLC now owns 8,256 shares of the utilities provider's stock valued at $1,006,000 after buying an additional 234 shares during the period. QRG Capital Management Inc. boosted its stake in shares of DTE Energy by 5.7% during the 2nd quarter. QRG Capital Management Inc. now owns 28,810 shares of the utilities provider's stock worth $4,390,000 after acquiring an additional 1,545 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of DTE Energy by 5.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,272 shares of the utilities provider's stock worth $651,000 after acquiring an additional 235 shares during the last quarter. Anchor Investment Management LLC boosted its position in DTE Energy by 68.0% during the second quarter. Anchor Investment Management LLC now owns 284 shares of the utilities provider's stock worth $43,000 after purchasing an additional 115 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of DTE Energy by 5.7% in the second quarter. Sequoia Financial Advisors LLC now owns 24,355 shares of the utilities provider's stock valued at $3,711,000 after purchasing an additional 1,319 shares during the last quarter. Institutional investors own 76.06% of the company's stock.

DTE Energy Company Profile

DTE Energy Company is a diversified energy company headquartered in Detroit, Michigan. Through its regulated utility operations, the company generates, transmits and distributes electricity and purchases, stores, transports and distributes natural gas. Its utility services primarily support residential, commercial and industrial customers across southeastern Michigan.

DTE Energy also operates businesses involved in energy-related products and services, including renewable energy, energy management, power and industrial projects, and other nonutility activities.

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