DTE Energy (NYSE:DTE - Free Report) had its price target lifted by Barclays from $136.00 to $138.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider's stock.
Several other equities research analysts also recently issued reports on DTE. Evercore ISI upped their price target on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a report on Friday, May 16th. BMO Capital Markets upped their price target on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. JPMorgan Chase & Co. upped their price target on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, DTE Energy presently has a consensus rating of "Moderate Buy" and an average target price of $141.53.
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DTE Energy Stock Up 1.2%
Shares of NYSE:DTE traded up $1.65 during trading on Tuesday, reaching $136.38. 302,845 shares of the stock were exchanged, compared to its average volume of 1,294,498. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. DTE Energy has a 1-year low of $115.48 and a 1-year high of $140.39. The stock has a fifty day moving average of $133.92 and a two-hundred day moving average of $130.95. The firm has a market cap of $28.30 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.29 and a beta of 0.44.
DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.
DTE Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $1.09 per share. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.20%. DTE Energy's dividend payout ratio is presently 58.92%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in DTE Energy during the 1st quarter worth about $25,000. Quintet Private Bank Europe S.A. purchased a new stake in DTE Energy during the 2nd quarter worth about $25,000. Olde Wealth Management LLC purchased a new stake in DTE Energy during the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in DTE Energy during the 1st quarter worth about $28,000. Finally, SouthState Corp purchased a new stake in DTE Energy during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 76.06% of the company's stock.
DTE Energy Company Profile
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DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.
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