DTE Energy (NYSE:DTE) Given New $144.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets has raised the price target for DTE Energy to $144.00, indicating a potential upside of 3.85% from its previous close.
• Analysts' ratings on DTE Energy are mixed, with nine analysts rating it as a Buy and five as a Hold, while Wall Street Zen downgraded it from Hold to Sell.
• DTE Energy's stock traded down 0.9% on the same day, reaching approximately $138.67 during mid-day trading.

DTE Energy (NYSE:DTE - Free Report) had its target price raised by BMO Capital Markets from $140.00 to $144.00 in a research report released on Monday morning, MarketBeat reports. The firm currently has a market perform rating on the utilities provider's stock.

Several other equities analysts have also commented on the company. Citigroup reissued a "buy" rating and issued a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Evercore ISI increased their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays increased their target price on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday. Finally, Wells Fargo & Company increased their price target on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, DTE Energy presently has a consensus rating of "Moderate Buy" and an average price target of $142.86.

DTE Energy Stock Down 0.6%

DTE traded down $0.86 during trading hours on Monday, hitting $137.55. 43,767 shares of the company's stock were exchanged, compared to its average volume of 1,374,632. DTE Energy has a 12-month low of $115.59 and a 12-month high of $142.05. The firm has a 50 day moving average of $136.21 and a 200 day moving average of $134.59. The firm has a market cap of $28.55 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 2.74 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is 62.73%.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the transaction, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DTE. Cloud Capital Management LLC acquired a new position in shares of DTE Energy during the first quarter worth $25,000. Quintet Private Bank Europe S.A. bought a new stake in shares of DTE Energy in the second quarter worth $25,000. Olde Wealth Management LLC bought a new stake in shares of DTE Energy in the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of DTE Energy in the first quarter worth $28,000. Finally, SouthState Corp bought a new stake in shares of DTE Energy in the first quarter worth $29,000. 76.06% of the stock is owned by institutional investors and hedge funds.

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.