DTE Energy (NYSE:DTE) Price Target Raised to $143.00

DTE Energy (NYSE:DTE) had its price objective increased by Morgan Stanley from $142.00 to $143.00 in a research report sent to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets decreased their price target on shares of DTE Energy from $151.00 to $148.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 24th. UBS Group reduced their price objective on DTE Energy from $155.00 to $151.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Wells Fargo & Company cut their target price on DTE Energy from $157.00 to $152.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Mizuho upped their target price on DTE Energy from $140.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Bank of America lifted their price target on DTE Energy from $153.00 to $154.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.69.

DTE Energy Price Performance

Shares of NYSE DTE opened at $135.58 on Monday. DTE Energy has a twelve month low of $121.19 and a twelve month high of $143.79. The company has a current ratio of 1.15, a quick ratio of 0.68 and a debt-to-equity ratio of 2.01. The firm has a 50-day moving average of $131.89 and a two-hundred day moving average of $136.12. The company has a market capitalization of $28.16 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.49 and a beta of 0.49.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a dividend of $1.165 per share. The ex-dividend date of this dividend was Monday, December 15th. This is a boost from DTE Energy’s previous quarterly dividend of $1.09. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. DTE Energy’s payout ratio is presently 69.97%.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC increased its stake in shares of DTE Energy by 29.8% in the third quarter. Salomon & Ludwin LLC now owns 305 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 70 shares during the last quarter. Keybank National Association OH grew its stake in DTE Energy by 1.6% in the second quarter. Keybank National Association OH now owns 4,525 shares of the utilities provider’s stock valued at $599,000 after purchasing an additional 72 shares in the last quarter. Atria Investments Inc increased its position in DTE Energy by 0.6% in the 2nd quarter. Atria Investments Inc now owns 11,354 shares of the utilities provider’s stock worth $1,504,000 after purchasing an additional 72 shares during the last quarter. SJS Investment Consulting Inc. increased its position in DTE Energy by 2.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 3,738 shares of the utilities provider’s stock worth $529,000 after purchasing an additional 73 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in shares of DTE Energy by 1.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 5,451 shares of the utilities provider’s stock worth $771,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.