Morgan Stanley Issues Pessimistic Forecast for DTE Energy (NYSE:DTE) Stock Price

Key Points

• Morgan Stanley lowered its DTE Energy price target from $148 to $141 while maintaining an “overweight” rating, implying about 9.08% upside from the stock’s $129.26 price.
• Analyst sentiment remains broadly positive but mixed: DTE has an overall “Moderate Buy” rating and an average price target of $156.46, although one analyst downgraded the stock to “sell.”
• DTE’s latest quarterly results exceeded expectations, with EPS of $1.32 versus the $1.14 consensus estimate; institutional investors own 76.06% of the company, while an insider recently sold 5,000 shares.

DTE Energy (NYSE:DTE - Get Free Report) had its price objective reduced by analysts at Morgan Stanley from $148.00 to $141.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's target price would indicate a potential upside of 9.08% from the stock's current price.

A number of other analysts have also recently weighed in on DTE. TD Cowen began coverage on DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price target on the stock. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a research report on Thursday, July 9th. Truist Financial lowered their price objective 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. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Mizuho reduced their price target on shares of DTE Energy from $164.00 to $152.00 and set an "outperform" rating for the company in a report on Thursday, August 27th. 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $156.46.

DTE Energy Stock Performance

NYSE:DTE traded down $1.18 during trading hours on Friday, reaching $129.26. 380,195 shares of the stock were exchanged, compared to its average volume of 1,421,327. The stock has a market capitalization of $26.90 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.84 and a beta of 0.37. The firm has a 50 day simple moving average of $140.04 and a 200-day simple moving average of $144.39. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. DTE Energy has a 52 week low of $126.23 and a 52 week high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last posted 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 business had revenue of $6.74 billion during 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 period in the previous year, the business posted $1.36 EPS. As a group, sell-side analysts forecast that DTE Energy will post 7.71 earnings per share for the current fiscal year.

Insider Activity at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $9,923,386.62. The trade was 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 available at the SEC website. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new position in DTE Energy during the fourth quarter valued at approximately $29,000. Key Financial Inc acquired a new position in shares of DTE Energy during the 1st quarter worth approximately $29,000. First Bancorp Inc ME acquired a new position in shares of DTE Energy during the 2nd quarter worth approximately $29,000. Community Bank N.A. bought a new stake in shares of DTE Energy during the 2nd quarter worth approximately $31,000. Finally, SHP Wealth Management bought a new stake in shares of DTE Energy during the 4th quarter worth approximately $35,000. 76.06% of the stock is owned by institutional investors.

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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