DTE Energy (NYSE:DTE) Stock Price Target Lowered at BMO Capital Markets

Key Points

• BMO Capital Markets lowered DTE Energy’s price target from $143 to $132 while maintaining a “market perform” rating, implying 9.25% upside from the prior close.
• Analyst sentiment remains broadly positive: DTE has an average “Moderate Buy” rating and a consensus price target of $154.38, despite mixed recent rating and target-price changes.
• DTE shares opened at $120.82, near their 12-month low of $120.24. The company recently exceeded quarterly earnings expectations, reporting EPS of $1.32 versus the $1.14 consensus estimate.

DTE Energy (NYSE:DTE - Get Free Report) had its target price cut by BMO Capital Markets from $143.00 to $132.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "market perform" rating on the utilities provider's stock. BMO Capital Markets' target price points to a potential upside of 9.25% from the company's previous close.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded DTE Energy from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 19th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 target price on shares of DTE Energy in a research note on Monday, June 15th. JPMorgan Chase & Co. increased their price target on shares of DTE Energy from $155.00 to $162.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Finally, Truist Financial cut their price objective on shares of DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $154.38.

DTE Energy Price Performance

Shares of DTE opened at $120.82 on Tuesday. DTE Energy has a twelve month low of $120.24 and a twelve month high of $155.74. The firm's fifty day simple moving average is $136.56 and its 200-day simple moving average is $143.15. The firm has a market capitalization of $25.14 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.39 and a beta of 0.37. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS 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 net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Equities analysts forecast that DTE Energy will post 7.71 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. First Bancorp Inc ME purchased a new stake in DTE Energy in the second quarter valued at approximately $29,000. Key Financial Inc purchased a new position in shares of DTE Energy during the first quarter worth approximately $29,000. Community Bank N.A. acquired a new position in shares of DTE Energy in the 2nd quarter valued at $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of DTE Energy in the 2nd quarter valued at $35,000. Finally, Optiver Holding B.V. purchased a new stake in DTE Energy in the 1st quarter valued at $36,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.