Truist Financial Issues Pessimistic Forecast for DTE Energy (NYSE:DTE) Stock Price

Key Points

• Truist Financial cut DTE Energy’s price target from $160 to $150 while maintaining a “buy” rating, implying approximately 17% upside from the prior close.
• Analyst sentiment remains positive overall, with DTE carrying a consensus “Moderate Buy” rating and an average price target of $152.31.
• DTE opened at $128.24, below its 50-day and 200-day moving averages. The company recently beat quarterly earnings expectations, reporting $1.32 in EPS versus the $1.14 consensus estimate.

DTE Energy (NYSE:DTE - Get Free Report) had its price target reduced by stock analysts at Truist Financial from $160.00 to $150.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the utilities provider's stock. Truist Financial's price objective suggests a potential upside of 16.97% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets increased their target price on shares of DTE Energy from $132.00 to $134.00 and gave the company a "market perform" rating in a research note on Monday, October 5th. Jefferies Financial Group set a $172.00 price target on DTE Energy in a report on Thursday, July 9th. Wall Street Zen upgraded DTE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, October 11th. Mizuho reduced their price objective on DTE Energy from $152.00 to $136.00 and set an "outperform" rating for the company in a research report on Monday, September 28th. Finally, Weiss Ratings lowered DTE Energy from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, DTE Energy currently has a consensus rating of "Moderate Buy" and an average price target of $152.31.

DTE Energy Stock Performance

DTE stock opened at $128.24 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $26.69 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 2.53 and a beta of 0.36. DTE Energy has a 12 month low of $119.68 and a 12 month high of $155.74. The firm has a 50 day moving average of $131.84 and a two-hundred day moving average of $141.34.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates 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. As a group, equities analysts anticipate that DTE Energy will post 7.70 EPS for the current fiscal year.

Insider Buying and Selling 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 shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the transaction, the insider 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 SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On DTE Energy

Several hedge funds have recently added to or reduced their stakes in DTE. Key Financial Inc acquired a new stake in shares of DTE Energy in the 1st quarter valued at approximately $29,000. First Bancorp Inc ME bought a new stake in DTE Energy in the second quarter valued at approximately $29,000. Community Bank N.A. bought a new stake in DTE Energy in the second quarter valued at approximately $31,000. Elevation Wealth Partners LLC increased its stake in DTE Energy by 682.4% in the third quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. Finally, SHP Wealth Management acquired a new stake in DTE Energy in the fourth quarter worth $35,000. Institutional investors own 76.06% of the company's stock.

About DTE Energy

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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