DTE Energy (NYSE:DTE) Price Target Raised to $128.00

DTE Energy (NYSE:DTE) had its price objective lifted by Morgan Stanley from $121.00 to $128.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price objective on DTE Energy from $125.00 to $133.00 and gave the company an overweight rating in a research report on Friday, July 26th. Mizuho lifted their price target on DTE Energy from $121.00 to $133.00 and gave the company an outperform rating in a report on Tuesday, September 10th. StockNews.com upgraded shares of DTE Energy from a sell rating to a hold rating in a report on Sunday, August 11th. Scotiabank boosted their target price on shares of DTE Energy from $120.00 to $137.00 and gave the company a sector outperform rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets increased their price target on shares of DTE Energy from $126.00 to $135.00 and gave the stock a market perform rating in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, DTE Energy currently has an average rating of Moderate Buy and a consensus price target of $128.17.

DTE Energy Trading Up 1.4 %

DTE Energy stock opened at $127.38 on Wednesday. The stock has a market cap of $26.36 billion, a PE ratio of 20.85, a P/E/G ratio of 2.32 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The stock has a 50-day moving average price of $122.64 and a 200 day moving average price of $115.36. DTE Energy has a 52 week low of $90.14 and a 52 week high of $127.89.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts predict that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DTE. ESL Trust Services LLC acquired a new stake in shares of DTE Energy in the first quarter valued at about $27,000. Rise Advisors LLC grew its position in DTE Energy by 89.6% in the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 129 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in DTE Energy in the second quarter valued at approximately $31,000. Denali Advisors LLC purchased a new stake in shares of DTE Energy during the first quarter valued at approximately $34,000. Finally, Salomon & Ludwin LLC lifted its position in shares of DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds 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.