Mizuho Cuts DTE Energy (NYSE:DTE) Price Target to $136.00

DTE Energy (NYSE:DTE) had its price objective cut by Mizuho from $152.00 to $136.00 in a report released on Monday morning, Marketbeat Ratings reports. They currently have an outperform rating on the utilities provider’s stock.

Several other analysts also recently weighed in on DTE. Jefferies Financial Group set a $172.00 target price on DTE Energy in a report on Thursday, July 9th. Truist Financial dropped their price target on DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price target on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. TD Cowen started coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price objective for the company. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price objective on shares of DTE Energy in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $154.38.

DTE Energy Trading Down 0.4%

Shares of DTE Energy stock opened at $121.95 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The company has a fifty day simple moving average of $135.58 and a 200-day simple moving average of $142.80. The stock has a market cap of $25.38 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 2.41 and a beta of 0.37. DTE Energy has a 12-month low of $119.68 and a 12-month high of $155.74.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the business earned $1.36 EPS. On average, equities analysts forecast that DTE Energy will post 7.71 EPS for the current fiscal year.

Insider Activity

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total value of $678,550.00. Following the transaction, the insider owned 73,122 shares in the company, valued at $9,923,386.62. The trade was a 6.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of DTE Energy

Hedge funds have recently added to or reduced their stakes in the stock. Key Financial Inc purchased a new stake in shares of DTE Energy during the first quarter worth approximately $29,000. First Bancorp Inc ME acquired a new position in DTE Energy in the 2nd quarter valued at $29,000. Community Bank N.A. acquired a new position in DTE Energy in the 2nd quarter valued at $31,000. SHP Wealth Management purchased a new position in DTE Energy during the 4th quarter worth $35,000. Finally, N.E.W. Advisory Services LLC purchased a new position in DTE Energy during the 2nd quarter worth $35,000. 76.06% of the stock is 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.