Scotiabank Lowers DTE Energy (NYSE:DTE) Price Target to $120.00

DTE Energy (NYSE:DTE) had its price target reduced by Scotiabank from $129.00 to $120.00 in a research report sent to investors on Monday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the utilities provider’s stock.

Several other research firms have also issued reports on DTE. Morgan Stanley lifted their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Guggenheim downgraded shares of DTE Energy from a buy rating to a neutral rating and set a $111.00 target price on the stock. in a report on Monday, January 22nd. TheStreet upgraded shares of DTE Energy from a c+ rating to a b- rating in a report on Friday, March 15th. KeyCorp lifted their target price on shares of DTE Energy from $106.00 to $117.00 and gave the stock an overweight rating in a report on Thursday, January 4th. Finally, Wolfe Research downgraded shares of DTE Energy from an outperform rating to a peer perform rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy has a consensus rating of Moderate Buy and an average price target of $115.10.

DTE Energy Trading Up 1.3 %

Shares of NYSE:DTE opened at $111.55 on Monday. The firm has a fifty day moving average of $109.05 and a two-hundred day moving average of $106.02. The firm has a market capitalization of $23.08 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.74 and a beta of 0.64. DTE Energy has a 12-month low of $90.14 and a 12-month high of $116.73. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates 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 last year, the business posted $1.31 EPS. On average, equities analysts expect that DTE Energy will post 6.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, March 15th. DTE Energy’s dividend payout ratio is 60.36%.

Insider Transactions at DTE Energy

In related news, CAO Tracy J. Myrick sold 600 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the transaction, the chief accounting officer now owns 3,462 shares in the company, valued at $370,572.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Tracy J. Myrick sold 600 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the transaction, the chief accounting officer now owns 3,462 shares in the company, valued at $370,572.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joann Chavez sold 6,070 shares of the stock in a transaction on Wednesday, February 21st. The shares were 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 approximately $1,819,869.73. The disclosure for this sale can be found here. Insiders sold 20,095 shares of company stock valued at $2,168,183 over the last quarter. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On DTE Energy

Several large investors have recently modified their holdings of the stock. Capital Research Global Investors raised its position in shares of DTE Energy by 1.9% in the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock valued at $2,308,076,000 after purchasing an additional 399,646 shares during the period. Ameriprise Financial Inc. increased its position in DTE Energy by 16.4% during the third quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock worth $509,081,000 after acquiring an additional 724,561 shares during the period. Boston Partners increased its holdings in DTE Energy by 66.8% in 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 period. Invesco Ltd. increased its holdings in DTE Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock valued at $221,314,000 after buying an additional 137,960 shares during the period. Finally, Northern Trust Corp increased its holdings in DTE Energy by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock valued at $190,937,000 after buying an additional 27,891 shares during the period. 76.06% of the stock is owned by institutional investors.

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.