DTE Energy (NYSE:DTE) Price Target Raised to $128.00

DTE Energy (NYSE:DTE) had its price target boosted by Morgan Stanley from $121.00 to $128.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other research analysts also recently weighed in on DTE. BMO Capital Markets raised their price target on DTE Energy from $126.00 to $135.00 and gave the company a market perform rating in a research note on Friday, September 6th. LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a report on Wednesday, August 14th. They set a buy rating and a $131.00 target price on the stock. Barclays increased their price target on shares of DTE Energy from $123.00 to $128.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an overweight rating in a research note on Friday, July 26th. Finally, Bank of America lifted their price target on DTE Energy from $131.00 to $136.00 and gave the stock a buy rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $128.17.

DTE Energy Trading Up 1.4 %

NYSE DTE opened at $127.38 on Wednesday. The stock has a market capitalization of $26.36 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.32 and a beta of 0.67. DTE Energy has a 52 week low of $90.14 and a 52 week high of $127.89. The stock’s 50 day moving average price is $122.86 and its two-hundred day moving average price is $115.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the firm earned $0.99 earnings per share. As a group, analysts anticipate that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DTE Energy

Large investors have recently added to or reduced their stakes in the stock. Grayhawk Investment Strategies Inc. bought a new stake in shares of DTE Energy during the 4th quarter valued at $1,305,000. UniSuper Management Pty Ltd lifted its position in DTE Energy by 407.3% during the first quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock worth $1,202,000 after purchasing an additional 8,603 shares during the period. Allianz Asset Management GmbH grew its stake in DTE Energy by 66.5% during the fourth quarter. Allianz Asset Management GmbH now owns 29,575 shares of the utilities provider’s stock worth $3,261,000 after buying an additional 11,809 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in DTE Energy by 9.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock valued at $13,934,000 after buying an additional 11,218 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of DTE Energy by 6.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock valued at $25,139,000 after buying an additional 14,022 shares in the last quarter. 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.