Scotiabank Trims DTE Energy (NYSE:DTE) Target Price to $120.00

DTE Energy (NYSE:DTE - Get Free Report) had its price objective dropped by stock analysts at Scotiabank from $129.00 to $120.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "sector outperform" rating on the utilities provider's stock. Scotiabank's price target points to a potential upside of 8.97% from the company's previous close.

Several other research firms also recently weighed in on DTE. KeyCorp upped their price target on shares of DTE Energy from $106.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. increased their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 13th. Morgan Stanley increased their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Barclays increased their target price on shares of DTE Energy from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. Finally, BMO Capital Markets increased their target price on shares of DTE Energy from $111.00 to $113.00 and gave the stock a "market perform" rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $115.10.

DTE Energy Stock Up 1.4 %

DTE traded up $1.55 during trading on Monday, hitting $110.12. The stock had a trading volume of 1,119,569 shares, compared to its average volume of 1,192,849. DTE Energy has a twelve month low of $90.14 and a twelve month high of $116.73. The stock has a 50 day simple moving average of $108.74 and a two-hundred day simple moving average of $105.77. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. The company has a market capitalization of $22.79 billion, a PE ratio of 16.34, a PEG ratio of 2.70 and a beta of 0.64.

DTE Energy (NYSE:DTE - Get Free Report) last issued its earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.01. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. The firm had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $4.97 billion. During the same quarter last year, the company posted $1.31 earnings per share. On average, research analysts predict that DTE Energy will post 6.71 earnings per share for the current year.

Insider Activity

In other news, COO Matthew T. Paul sold 5,850 shares of the company's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at $743,200.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Matthew T. Paul sold 5,850 shares of the company's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total value of $625,482.00. Following the sale, the chief operating officer now directly owns 6,951 shares of the company's stock, valued at $743,200.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at $370,572.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,095 shares of company stock worth $2,168,183. 0.28% of the stock is currently owned by company insiders.

Institutional Trading of DTE Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Impact Partnership Wealth LLC grew its position in DTE Energy by 70.2% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,455 shares of the utilities provider's stock valued at $144,000 after buying an additional 600 shares in the last quarter. SS&H Financial Advisors Inc. bought a new position in DTE Energy in the 3rd quarter valued at about $735,000. Advisory Alpha LLC grew its position in DTE Energy by 7.2% in the 3rd quarter. Advisory Alpha LLC now owns 2,537 shares of the utilities provider's stock valued at $252,000 after buying an additional 170 shares in the last quarter. Secure Asset Management LLC grew its position in DTE Energy by 4.3% in the 3rd quarter. Secure Asset Management LLC now owns 7,561 shares of the utilities provider's stock valued at $751,000 after buying an additional 312 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in DTE Energy in the 3rd quarter valued at about $1,362,000. 76.06% of the stock is owned by institutional investors and hedge funds.

About DTE Energy

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.