Barclays Boosts DTE Energy (NYSE:DTE) Price Target to $119.00

DTE Energy (NYSE:DTE) had its price objective raised by Barclays from $115.00 to $119.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. lifted their target price on DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, March 13th. KeyCorp lifted their target price on DTE Energy from $106.00 to $117.00 and gave the stock an overweight rating in a research report on Thursday, January 4th. Morgan Stanley lifted their target price on DTE Energy from $108.00 to $109.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Wolfe Research lowered DTE Energy from an outperform rating to a peer perform rating in a research report on Tuesday, January 16th. Finally, TheStreet upgraded DTE Energy from a c+ rating to a b- rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, DTE Energy presently has an average rating of Moderate Buy and a consensus target price of $115.50.

DTE Energy Stock Up 0.8 %

NYSE DTE traded up $0.89 during mid-day trading on Tuesday, reaching $112.80. 1,021,105 shares of the company’s stock traded hands, compared to its average volume of 1,185,573. DTE Energy has a 1-year low of $90.14 and a 1-year high of $116.73. The company has a fifty day simple moving average of $109.41 and a 200-day simple moving average of $106.53. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. The company has a market cap of $23.34 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 2.77 and a beta of 0.64.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. As a group, equities research analysts expect that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $1.02 per share. The ex-dividend date is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.62%. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Insiders Place Their Bets

In other DTE Energy news, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total transaction of $625,482.00. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $743,200.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total transaction of $625,482.00. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $743,200.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the sale, the chief operating officer now directly owns 26,118 shares of the company’s stock, valued at $2,801,155.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,095 shares of company stock worth $2,168,183. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DTE. Capital Research Global Investors boosted its stake in shares of DTE Energy by 1.9% during the 4th quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after acquiring an additional 399,646 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of DTE Energy by 16.4% in the 3rd 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 lifted its position in shares of DTE Energy by 66.8% in the 4th 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 during the period. Invesco Ltd. lifted its position in shares of DTE Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock worth $221,314,000 after acquiring an additional 137,960 shares during the period. Finally, Northern Trust Corp lifted its position in shares of DTE Energy by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock worth $190,937,000 after acquiring an additional 27,891 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

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.