DTE Energy Company (NYSE:DTE) Stock Has Consensus Target Price of $148.58

Key Points

• Analyst sentiment is broadly positive: Sixteen brokerages give DTE Energy a consensus “Moderate Buy” rating, with an average 12-month price target of $148.58.
• Quarterly results beat estimates: DTE reported EPS of $2.30 versus the $2.13 consensus and revenue of $3.73 billion versus the $3.61 billion estimate.
• The quarterly dividend increased to $1.245 per share, up from $1.165, equating to an annualized dividend of $4.98 and a 3.6% yield.

DTE Energy Company (NYSE:DTE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the sixteen brokerages that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $148.58.

A number of analysts recently issued reports on DTE shares. Jefferies Financial Group set a $152.00 price objective on DTE Energy in a research report on Friday, October 23rd. Mizuho cut their price target on DTE Energy from $152.00 to $136.00 and set an "outperform" rating for the company in a research note on Monday, September 28th. BMO Capital Markets lifted their price target on DTE Energy from $134.00 to $139.00 and gave the company a "market perform" rating in a report on Friday, October 16th. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday, October 19th. Finally, Barclays dropped their price objective on DTE Energy from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Friday, October 16th.

DTE Energy Price Performance

Shares of DTE opened at $139.69 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.62 and a quick ratio of 0.40. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 2.86 and a beta of 0.35. The business's 50-day moving average is $130.47 and its 200-day moving average is $140.93. DTE Energy has a fifty-two week low of $119.68 and a fifty-two week high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Thursday, November 5th. The utilities provider reported $2.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.17. DTE Energy had a net margin of 8.21% and a return on equity of 12.17%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the firm earned $2.01 EPS. Equities research analysts expect that DTE Energy will post 7.70 EPS for the current fiscal year.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, December 21st will be given a $1.2450 dividend. This is a positive change from DTE Energy's previous quarterly dividend of $1.1650. This represents a $4.98 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, December 21st. DTE Energy's payout ratio is presently 71.04%.

Insider Activity at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider owned 73,122 shares in the company, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DTE Energy

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of DTE Energy in the second quarter valued at $3,915,284,000. Jupiter Topco LLC bought a new stake in DTE Energy in the 2nd quarter valued at $477,264,000. Bank of America Corp DE acquired a new position in shares of DTE Energy in the 2nd quarter valued at $417,001,000. Legal & General Group Plc acquired a new position in shares of DTE Energy in the 2nd quarter valued at $199,563,000. Finally, Bank of New York Mellon Corp bought a new position in shares of DTE Energy during the 2nd quarter worth about $170,977,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Company Profile

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state. The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company's investments in renewable energy generation.

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