DTE Energy (NYSE:DTE) Price Target Cut to $137.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has reduced its price target for DTE Energy from $140.00 to $137.00, maintaining an "overweight" rating, indicating a potential downside of 0.54% from the current stock price.
• Several other analysts have provided mixed ratings for DTE Energy, with JPMorgan Chase raising its target to $147.00 and Wall Street Zen downgrading the stock to a "sell" rating.
• DTE Energy's stock is currently trading at $137.75, down 0.7%, with a market capitalization of $28.60 billion and an average price target of $144.00 among analysts.

DTE Energy (NYSE:DTE - Get Free Report) had its price objective decreased by equities researchers at Morgan Stanley from $140.00 to $137.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's price objective points to a potential downside of 0.54% from the company's current price.

DTE has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price target on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. BMO Capital Markets lifted their target price on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research report on Sunday, September 14th. Finally, Barclays lifted their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $144.00.

DTE Energy Stock Down 0.7%

DTE Energy stock traded down $1.01 during mid-day trading on Thursday, reaching $137.75. The stock had a trading volume of 250,282 shares, compared to its average volume of 1,339,781. DTE Energy has a one year low of $115.59 and a one year high of $142.05. The company has a 50-day moving average price of $137.77 and a two-hundred day moving average price of $135.39. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. The company has a market capitalization of $28.60 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.74 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The firm had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. On average, analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC grew its stake in DTE Energy by 14.1% during the 4th quarter. Tidal Investments LLC now owns 2,841 shares of the utilities provider's stock worth $343,000 after buying an additional 351 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of DTE Energy by 3.7% in the fourth quarter. Squarepoint Ops LLC now owns 5,779 shares of the utilities provider's stock worth $698,000 after acquiring an additional 205 shares during the last quarter. Vident Advisory LLC increased its stake in DTE Energy by 11.5% in the fourth quarter. Vident Advisory LLC now owns 2,790 shares of the utilities provider's stock valued at $337,000 after purchasing an additional 287 shares during the last quarter. Vise Technologies Inc. acquired a new position in DTE Energy in the fourth quarter valued at $213,000. Finally, Toronto Dominion Bank grew its position in DTE Energy by 24.0% during the fourth quarter. Toronto Dominion Bank now owns 114,936 shares of the utilities provider's stock valued at $13,879,000 after acquiring an additional 22,265 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Company Profile

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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