DTE Energy (NYSE:DTE) Price Target Lowered to $143.00 at BMO Capital Markets

Key Points

• BMO Capital Markets lowered DTE Energy’s price target from $150 to $143 while maintaining a “market perform” rating, implying roughly 5% upside from the prior close.
• Analyst sentiment remains broadly positive, with DTE holding a “Moderate Buy” consensus rating and an average price target of $157, despite several recent target reductions.
• DTE reported quarterly EPS of $1.32, beating estimates of $1.14, while institutional investors collectively own approximately 76.06% of the company’s stock.

DTE Energy (NYSE:DTE - Get Free Report) had its price objective reduced by stock analysts at BMO Capital Markets from $150.00 to $143.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "market perform" rating on the utilities provider's stock. BMO Capital Markets' target price points to a potential upside of 5.06% from the company's previous close.

DTE has been the subject of several other research reports. Truist Financial cut their price target 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. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a research report on Thursday, July 9th. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Barclays cut their price target on shares of DTE Energy from $156.00 to $154.00 and set an "equal weight" rating for the company in a report on Monday, May 4th. Finally, Morgan Stanley dropped their target price on shares of DTE Energy from $153.00 to $148.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $157.00.

DTE Energy Stock Performance

DTE opened at $136.11 on Friday. The firm has a fifty day moving average price of $145.21 and a 200 day moving average price of $145.37. DTE Energy has a 1 year low of $126.23 and a 1 year high of $155.74. The stock has a market cap of $28.32 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.99 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.

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

Institutional Investors Weigh In On DTE Energy

A number of large investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund boosted its position in DTE Energy by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider's stock worth $3,481,000 after acquiring an additional 71 shares during the last quarter. Whittier Trust Co. grew its position in shares of DTE Energy by 3.5% in the first quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider's stock valued at $328,000 after purchasing an additional 75 shares in the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of DTE Energy by 1.2% in the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider's stock valued at $927,000 after purchasing an additional 76 shares during the last quarter. HM Payson & Co. lifted its position in DTE Energy by 23.6% during the fourth quarter. HM Payson & Co. now owns 419 shares of the utilities provider's stock worth $54,000 after buying an additional 80 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in DTE Energy by 1.1% during the fourth quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider's stock worth $1,000,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company's utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.

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