DTE Energy (NYSE:DTE) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $140.00 to $115.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 19.42% from the stock’s previous close.
Several other analysts also recently issued reports on the stock. Evercore ISI raised shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $139.00 price objective for the company in a research note on Monday, January 27th. KeyCorp raised their target price on shares of DTE Energy from $139.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley reduced their target price on shares of DTE Energy from $130.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Vertical Research began coverage on shares of DTE Energy in a research report on Monday, February 24th. They set a “hold” rating and a $143.00 target price on the stock. Finally, Credit Suisse Group raised their target price on shares of DTE Energy from $133.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. DTE Energy has an average rating of “Hold” and a consensus price target of $132.33.
Shares of NYSE:DTE traded up $3.82 during trading on Thursday, reaching $96.30. The company’s stock had a trading volume of 62,654 shares, compared to its average volume of 2,663,583. The company has a current ratio of 0.77, a quick ratio of 0.58 and a debt-to-equity ratio of 1.36. DTE Energy has a 12 month low of $71.21 and a 12 month high of $135.67. The firm’s 50 day simple moving average is $115.45 and its two-hundred day simple moving average is $125.21. The stock has a market capitalization of $16.66 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.18 and a beta of 0.46.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.05. DTE Energy had a net margin of 9.23% and a return on equity of 10.52%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the firm earned $0.91 EPS. Research analysts anticipate that DTE Energy will post 6.61 EPS for the current fiscal year.
In other DTE Energy news, CFO Peter B. Oleksiak sold 1,800 shares of DTE Energy stock in a transaction on Monday, February 24th. The shares were sold at an average price of $134.94, for a total value of $242,892.00. Following the transaction, the chief financial officer now directly owns 49,034 shares of the company’s stock, valued at $6,616,647.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in DTE Energy by 4.6% in the fourth quarter. Capital World Investors now owns 19,247,087 shares of the utilities provider’s stock worth $2,499,619,000 after purchasing an additional 838,131 shares during the last quarter. State Street Corp lifted its stake in shares of DTE Energy by 2.9% during the fourth quarter. State Street Corp now owns 10,160,610 shares of the utilities provider’s stock worth $1,329,552,000 after buying an additional 287,268 shares during the period. Geode Capital Management LLC lifted its stake in shares of DTE Energy by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 3,147,168 shares of the utilities provider’s stock worth $407,941,000 after buying an additional 233,693 shares during the period. Boston Partners lifted its stake in shares of DTE Energy by 4.2% during the fourth quarter. Boston Partners now owns 2,069,728 shares of the utilities provider’s stock worth $268,787,000 after buying an additional 84,275 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of DTE Energy by 18.0% during the fourth quarter. Franklin Resources Inc. now owns 2,015,724 shares of the utilities provider’s stock worth $261,783,000 after buying an additional 307,765 shares during the period. 72.32% of the stock is currently 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 approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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