The target price for DTE Energy (NYSE:DTE) increased to $135.00

DTE Energy (NYSE:DTE – Free Report) had its target price boosted by BMO Capital Markets from $126.00 to $135.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a market perform rating on the utilities provider’s stock.

Several other research analysts have also recently weighed in on the company. StockNews.com raised DTE Energy from a sell rating to a hold rating in a research report on Sunday, August 11th. Scotiabank raised their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a sector perform rating in a report on Tuesday, August 20th. Morgan Stanley upped their target price on shares of DTE Energy from $114.00 to $121.00 and gave the stock an overweight rating in a report on Friday, August 23rd. Barclays boosted their target price on shares of DTE Energy from $123.00 to $128.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. Finally, KeyCorp boosted their target price on shares of DTE Energy from $117.00 to $125.00 and gave the stock an overweight rating in a research report on Monday, May 20th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $124.92.

Read the latest stock analysis on DTE

DTE energy price performance

Shares of DTE stock opened at $123.19 on Friday. The stock has a 50-day simple moving average of $118.84 and a 200-day simple moving average of $113.87. DTE Energy has a 52-week low of $90.14 and a 52-week high of $127.59. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52, and a current ratio of 0.69. The firm has a market cap of $25.49 billion, a PE ratio of 20.16, a P/E/G ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE – Get Your Free Report ) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. In the same quarter last year, the company earned $0.99 per share. sell-side analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

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

Institutional investors are investing in DTE Energy

Several hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its position in shares of DTE Energy by 1.2% in the first quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock valued at $2,376,768,000 after buying an additional 261,623 shares during the period. Ameriprise Financial Inc. boosted its holdings in DTE Energy by 1.6% in the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after acquiring an additional 86,205 shares during the period. Boston Partners grew its position in DTE Energy by 66.8% during the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after acquiring an additional 1,018,212 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of DTE Energy by 224.7% in the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after acquiring an additional 1,756,459 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of DTE Energy by 6,964.9% in the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after purchasing an additional 2,060,762 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s shares.

DTE Energy Company Profile

(Get a free report)

DTE Energy is engaged in utility operations. The Company’s Electric segment generates, purchases, distributes and sells electricity to various residential, commercial and industrial customers in Southeast Michigan. It generates electricity through coal-fired power plants, pumped hydroelectric storage and nuclear plants, as well as wind and solar assets.

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