DTE Energy (NYSE:DTE) Stock Price Target Cut by BMO Capital Markets

DTE Energy (NYSE:DTE) had its price target decreased by equities research analysts at BMO Capital Markets from $143.00 to $132.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 9.25% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Weiss Ratings cut DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Morgan Stanley lowered their price objective on shares of DTE Energy from $148.00 to $141.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. TD Cowen assumed coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price objective for the company. Truist Financial reduced their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $154.38.

DTE Energy Stock Performance

Shares of DTE stock opened at $120.82 on Tuesday. The stock has a market capitalization of $25.14 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.37. DTE Energy has a 52-week low of $120.24 and a 52-week high of $155.74. The stock’s 50-day moving average price is $136.56 and its 200 day moving average price is $143.15. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the firm earned $1.36 EPS. As a group, equities research analysts forecast that DTE Energy will post 7.71 EPS for the current year.

Insider Buying and Selling

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the sale, the insider owned 73,122 shares of the company’s stock, valued at approximately $9,923,386.62. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently modified their holdings of DTE. Callan Family Office LLC purchased a new stake in DTE Energy in the 2nd quarter worth approximately $1,438,000. Convergence Investment Partners LLC purchased a new position in shares of DTE Energy during the 1st quarter worth $3,142,000. OMERS ADMINISTRATION Corp purchased a new position in shares of DTE Energy during the 2nd quarter worth $2,236,000. Capital Innovations LLC acquired a new stake in shares of DTE Energy during the fourth quarter worth $1,014,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of DTE Energy during the first quarter worth $1,550,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

About DTE Energy

DTE Energy Company is a diversified energy company headquartered in Detroit, Michigan. Through its regulated utility operations, the company generates, transmits and distributes electricity and purchases, stores, transports and distributes natural gas. Its utility services primarily support residential, commercial and industrial customers across southeastern Michigan.

DTE Energy also operates businesses involved in energy-related products and services, including renewable energy, energy management, power and industrial projects, and other nonutility activities.