DTE Energy (NYSE:DTE) Price Target Raised to $135.00 at BMO Capital Markets

DTE Energy (NYSE:DTE) had its price objective increased by BMO Capital Markets from $126.00 to $135.00 in a research note released on Friday morning, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Several other equities research analysts have also issued reports on the company. Scotiabank upped their price target on DTE Energy from $120.00 to $137.00 and gave the company a sector outperform rating in a research report on Tuesday, August 20th. Bank of America increased their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a buy rating in a report on Thursday, August 29th. Barclays lifted their price target on shares of DTE Energy from $123.00 to $128.00 and gave the company an overweight rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of DTE Energy from a sell rating to a hold rating in a research note on Sunday, August 11th. Finally, Wells Fargo & Company lifted their target price on DTE Energy from $125.00 to $133.00 and gave the company an overweight rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $124.92.

DTE Energy Price Performance

Shares of DTE stock opened at $123.14 on Friday. The firm has a fifty day moving average of $118.84 and a two-hundred day moving average of $113.80. The firm has a market cap of $25.48 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.29 and a beta of 0.67. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52.

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

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.31%. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Hedge Funds Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Grayhawk Investment Strategies Inc. bought a new position in shares of DTE Energy in the fourth quarter valued at approximately $1,305,000. Intech Investment Management LLC boosted its stake in DTE Energy by 62.7% during the fourth quarter. Intech Investment Management LLC now owns 26,421 shares of the utilities provider’s stock valued at $2,913,000 after buying an additional 10,180 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings 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 acquiring an additional 8,603 shares during the period. Allianz Asset Management GmbH lifted its holdings in DTE Energy by 66.5% in the 4th quarter. Allianz Asset Management GmbH now owns 29,575 shares of the utilities provider’s stock valued at $3,261,000 after acquiring an additional 11,809 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of DTE Energy by 9.9% during 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 purchasing an additional 11,218 shares in the last quarter. Institutional investors 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.