DTE Energy (NYSE:DTE) PT Lowered to $120.00 at Scotiabank

DTE Energy (NYSE:DTE) had its price objective trimmed by Scotiabank from $129.00 to $120.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a sector outperform rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on the company. KeyCorp boosted their price objective on DTE Energy from $106.00 to $117.00 and gave the company an overweight rating in a report on Thursday, January 4th. Guggenheim downgraded DTE Energy from a buy rating to a neutral rating and set a $111.00 price objective on the stock. in a report on Monday, January 22nd. TheStreet upgraded DTE Energy from a c+ rating to a b- rating in a report on Friday, March 15th. Wolfe Research downgraded DTE Energy from an outperform rating to a peer perform rating in a report on Tuesday, January 16th. Finally, BMO Capital Markets upped their price target on DTE Energy from $111.00 to $113.00 and gave the stock a market perform rating in a report on Wednesday, April 17th. One equities 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. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $115.10.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $111.55 on Monday. DTE Energy has a 52 week low of $90.14 and a 52 week high of $116.73. The business’s fifty day simple moving average is $109.05 and its 200-day simple moving average is $106.02. The firm has a market cap of $23.08 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.74 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.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the prior year, the company posted $1.31 EPS. Equities analysts forecast that DTE Energy will post 6.71 earnings per share 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 given a dividend of $1.02 per share. The ex-dividend date was Friday, March 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.66%. DTE Energy’s dividend payout ratio is currently 60.36%.

Insider Transactions at DTE Energy

In other news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total transaction of $300,893.25. Following the completion of the transaction, the vice president now directly owns 5,469 shares of the company’s stock, valued at approximately $593,003.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total value of $300,893.25. Following the completion of the sale, the vice president now directly owns 5,469 shares of the company’s stock, valued at approximately $593,003.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 6,070 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the completion of the sale, the senior vice president now directly 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 valued at $2,168,183. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of DTE Energy

A number of large investors have recently made changes to their positions in DTE. MV Capital Management Inc. increased its stake in DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 143 shares in the last quarter. Rise Advisors LLC lifted its stake in shares of DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares during the period. Denali Advisors LLC purchased a new position in shares of DTE Energy during the 1st quarter worth $34,000. Milestone Investment Advisors LLC purchased a new position in shares of DTE Energy during the 3rd quarter worth $36,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of DTE Energy during the 3rd quarter worth $37,000. 76.06% of the stock is owned by institutional investors and hedge funds.

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.