BMO Capital Markets Forecasts Strong Price Appreciation for DTE Energy (NYSE:DTE) Stock

DTE Energy (NYSE:DTE) had its target price increased by investment analysts at BMO Capital Markets from $125.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 4.26% from the stock’s previous close.

DTE has been the topic of a number of other research reports. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.83.

DTE Energy Stock Performance

DTE traded up $0.44 during midday trading on Tuesday, hitting $129.48. 918,774 shares of the company traded hands, compared to its average volume of 1,164,312. The company’s 50-day moving average is $121.39 and its 200 day moving average is $123.12. DTE Energy has a 52 week low of $103.06 and a 52 week high of $131.66. The firm has a market capitalization of $26.82 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 12.33% and a return on equity of 13.42%. On average, research analysts expect that DTE Energy will post 6.77 EPS for the current year.

Institutional Trading of DTE Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DTE. Vise Technologies Inc. bought a new position in shares of DTE Energy during the 4th quarter valued at about $213,000. PharVision Advisers LLC bought a new position in DTE Energy during the fourth quarter valued at approximately $629,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in DTE Energy by 28.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 777,132 shares of the utilities provider’s stock valued at $93,839,000 after buying an additional 171,371 shares during the last quarter. Worldquant Millennium Advisors LLC increased its stake in DTE Energy by 39.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 40,810 shares of the utilities provider’s stock worth $4,928,000 after acquiring an additional 11,543 shares during the last quarter. Finally, Waverly Advisors LLC purchased a new stake in shares of DTE Energy during the 4th quarter worth approximately $3,525,000. 76.06% of the stock is currently owned by institutional investors.

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.