DTE Energy (NYSE:DTE) Stock Price Target Lowered at Mizuho

DTE Energy (NYSE:DTE) had its price objective decreased by Mizuho from $152.00 to $136.00 in a research note released on Monday, MarketBeat.com reports. Mizuho currently has an outperform rating on the utilities provider’s stock.

A number of other brokerages have also recently commented on DTE. JPMorgan Chase & Co. lifted their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. TD Cowen initiated coverage on shares of DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price target for the company. Jefferies Financial Group set a $172.00 price target on DTE Energy in a research report on Thursday, July 9th. Finally, Morgan Stanley reduced their price objective on DTE Energy from $148.00 to $141.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.23.

DTE Energy Stock Down 0.5%

Shares of DTE opened at $120.82 on Monday. The stock has a market capitalization of $25.14 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.37. DTE Energy has a 1 year low of $120.24 and a 1 year high of $155.74. The business’s 50 day simple moving average is $136.56 and its 200-day simple moving average is $143.15. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the business posted $1.36 earnings per share. As a group, equities analysts expect that DTE Energy will post 7.71 earnings per share for the current fiscal year.

Insider Activity

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider owned 73,122 shares of the company’s stock, valued at approximately $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On DTE Energy

Large investors have recently bought and sold shares of the business. QRG Capital Management Inc. grew its position in DTE Energy by 5.7% in the 2nd quarter. QRG Capital Management Inc. now owns 28,810 shares of the utilities provider’s stock valued at $4,390,000 after acquiring an additional 1,545 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of DTE Energy by 5.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,272 shares of the utilities provider’s stock worth $651,000 after purchasing an additional 235 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of DTE Energy by 68.0% during the second quarter. Anchor Investment Management LLC now owns 284 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 115 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of DTE Energy by 5.7% during the second quarter. Sequoia Financial Advisors LLC now owns 24,355 shares of the utilities provider’s stock valued at $3,711,000 after purchasing an additional 1,319 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of DTE Energy by 10.2% in the second quarter. Tidal Investments LLC now owns 8,380 shares of the utilities provider’s stock worth $1,277,000 after purchasing an additional 775 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.