DTE Energy (NYSE:DTE) Price Target Cut to $136.00 by Analysts at Mizuho

Key Points

• Mizuho cut DTE Energy’s price target from $152 to $136 while maintaining an “outperform” rating, implying approximately 12% upside from the stock’s $121.36 opening price.
• Analyst sentiment remains generally positive: DTE has a consensus “Moderate Buy” rating and an average price target of $155.23, though targets from other firms range from $136 to $172.
• DTE exceeded quarterly earnings expectations, reporting $1.32 in EPS versus the $1.14 consensus estimate and $6.74 billion in revenue; analysts expect full-year EPS of $7.71.

DTE Energy (NYSE:DTE - Get Free Report) had its price target lowered by investment analysts at Mizuho from $152.00 to $136.00 in a report issued on Monday, Benzinga reports. The firm presently has an "outperform" rating on the utilities provider's stock. Mizuho's price objective would suggest a potential upside of 12.06% from the company's current price.

Several other research firms have also issued reports on DTE. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a research note on Thursday, July 9th. TD Cowen initiated coverage on DTE Energy in a report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price objective on the stock. Wall Street Zen raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. Truist Financial lowered their target price on DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. boosted their price objective on DTE Energy from $155.00 to $162.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and a consensus target price of $155.23.

DTE Energy Price Performance

Shares of NYSE DTE opened at $121.36 on Monday. DTE Energy has a fifty-two week low of $120.24 and a fifty-two week high of $155.74. The stock has a fifty day moving average of $137.06 and a 200-day moving average of $143.35. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The stock has a market cap of $25.25 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 2.39 and a beta of 0.37.

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

Insiders Place Their Bets

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the transaction, the insider owned 73,122 shares of the company's stock, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Key Financial Inc purchased a new position in shares of DTE Energy in the 1st quarter worth about $29,000. First Bancorp Inc ME bought a new stake in DTE Energy during the 2nd quarter valued at about $29,000. Community Bank N.A. purchased a new position in DTE Energy in the second quarter worth about $31,000. SHP Wealth Management bought a new position in DTE Energy in the 4th quarter valued at approximately $35,000. Finally, N.E.W. Advisory Services LLC purchased a new position in DTE Energy in the 2nd quarter worth about $35,000. Institutional investors own 76.06% of the company's stock.

DTE Energy Company Profile

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.

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