DTE Energy (NYSE:DTE – Get Rating) had its price target raised by investment analysts at Morgan Stanley from $123.00 to $130.00 in a report released on Thursday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential upside of 8.63% from the company’s previous close.
A number of other analysts also recently commented on the company. BMO Capital Markets upped their target price on DTE Energy from $117.00 to $125.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 22nd. Wolfe Research raised shares of DTE Energy from a “peer perform” rating to an “outperform” rating and set a $125.00 price target on the stock in a report on Thursday, December 8th. Guggenheim cut their price objective on shares of DTE Energy from $145.00 to $122.00 in a report on Monday, October 24th. TheStreet lowered shares of DTE Energy from a “b” rating to a “c+” rating in a research note on Thursday, October 6th. Finally, Wells Fargo & Company lifted their price target on DTE Energy from $128.00 to $138.00 in a research note on Wednesday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $130.00.
DTE Energy Stock Performance
DTE traded down $0.93 during trading on Thursday, reaching $119.67. 4,940 shares of the company’s stock were exchanged, compared to its average volume of 1,230,039. The company’s fifty day simple moving average is $112.26 and its 200-day simple moving average is $122.37. The stock has a market capitalization of $23.19 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 3.25 and a beta of 0.60. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.79 and a quick ratio of 0.60. DTE Energy has a 1 year low of $100.64 and a 1 year high of $140.23.
DTE Energy (NYSE:DTE – Get Rating) last issued its earnings results on Thursday, October 27th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.02. DTE Energy had a net margin of 5.79% and a return on equity of 12.90%. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the company posted $1.72 earnings per share. As a group, research analysts predict that DTE Energy will post 6.02 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gradient Investments LLC lifted its position in DTE Energy by 7.7% during the second quarter. Gradient Investments LLC now owns 3,231 shares of the utilities provider’s stock worth $410,000 after buying an additional 232 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of DTE Energy by 21.1% during the 2nd quarter. Kestra Private Wealth Services LLC now owns 2,867 shares of the utilities provider’s stock worth $363,000 after acquiring an additional 499 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of DTE Energy during the 2nd quarter valued at about $1,375,000. Charter Oak Capital Management LLC purchased a new stake in shares of DTE Energy in the second quarter valued at about $39,000. Finally, State of Tennessee Treasury Department increased its position in DTE Energy by 25.2% during the first quarter. State of Tennessee Treasury Department now owns 102,310 shares of the utilities provider’s stock worth $13,527,000 after purchasing an additional 20,583 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.
About DTE Energy
DTE Energy Company engages in the utility operations. The company’s Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider DTE Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and DTE Energy wasn’t on the list.
While DTE Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: news.google.com
