BMO Capital Markets Increases DTE Energy (NYSE:DTE) Price Target to $113.00

DTE Energy (NYSE:DTE) had its target price upped by BMO Capital Markets from $111.00 to $113.00 in a research note issued to investors on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

DTE has been the subject of several other research reports. Wolfe Research cut shares of DTE Energy from an outperform rating to a peer perform rating in a research note on Tuesday, January 16th. Guggenheim cut shares of DTE Energy from a buy rating to a neutral rating and set a $111.00 price objective for the company. in a research note on Monday, January 22nd. Barclays boosted their price objective on shares of DTE Energy from $112.00 to $115.00 and gave the company an overweight rating in a research note on Monday, April 15th. JPMorgan Chase & Co. lifted their target price on shares of DTE Energy from $118.00 to $120.00 and gave the company a neutral rating in a research report on Wednesday, March 13th. Finally, TheStreet upgraded shares of DTE Energy from a c+ rating to a b- rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $114.56.

DTE Energy Price Performance

DTE opened at $108.57 on Wednesday. The company has a market capitalization of $22.47 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 2.65 and a beta of 0.64. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58. The firm has a 50-day moving average price of $108.74 and a 200-day moving average price of $105.70. DTE Energy has a twelve month low of $90.14 and a twelve month high of $116.73.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.96 by $0.01. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $4.97 billion. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. During the same quarter in the previous year, the company earned $1.31 earnings per share. Equities analysts expect that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a $1.02 dividend. The ex-dividend date was Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.76%. DTE Energy’s payout ratio is 60.36%.

Insider Transactions at DTE Energy

In other news, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joann Chavez sold 6,070 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares of the company’s stock, valued at $1,819,869.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,095 shares of company stock worth $2,168,183. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Millennium Management LLC raised its holdings in DTE Energy by 224.8% during the 4th quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock valued at $279,708,000 after buying an additional 1,647,053 shares during the last quarter. Vanguard Group Inc. raised its holdings in DTE Energy by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock valued at $3,044,624,000 after buying an additional 1,420,586 shares during the last quarter. Boston Partners raised its holdings in DTE Energy by 66.8% during the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after buying an additional 1,018,212 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in DTE Energy by 16.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after buying an additional 724,561 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in DTE Energy by 145.4% during the 4th quarter. Royal Bank of Canada now owns 1,153,230 shares of the utilities provider’s stock valued at $127,155,000 after buying an additional 683,250 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

About DTE Energy

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.