DTE Energy (NYSE:DTE) Price Target Cut to $139.00 by Analysts at Morgan Stanley

DTE Energy (NYSE:DTE) had its price target decreased by Morgan Stanley from $141.00 to $139.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential upside of 7.03% from the company’s current price.

Other analysts also recently issued reports about the company. TD Cowen started coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price for the company. BMO Capital Markets boosted their target price on DTE Energy from $134.00 to $139.00 and gave the company a “market perform” rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Jefferies Financial Group set a $172.00 price target on DTE Energy in a research note on Thursday, July 9th. Finally, Mizuho cut their price target on DTE Energy from $152.00 to $136.00 and set an “outperform” rating on the stock in a report on Monday, September 28th. One research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.69.

DTE Energy Trading Up 0.4%

Shares of NYSE:DTE traded up $0.55 during mid-day trading on Wednesday, hitting $129.87. The company had a trading volume of 179,415 shares, compared to its average volume of 1,470,468. The firm has a fifty day moving average price of $131.28 and a 200 day moving average price of $140.96. The company has a market capitalization of $27.02 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. DTE Energy has a one year low of $119.68 and a one year high of $155.74.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the company earned $1.36 EPS. As a group, research analysts forecast that DTE Energy will post 7.70 EPS for the current year.

Insiders Place Their Bets

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 transaction, the insider directly owned 73,122 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Bancorp Inc ME purchased a new position in shares of DTE Energy during the second quarter worth about $29,000. Key Financial Inc bought a new position in shares of DTE Energy in the first quarter worth approximately $29,000. Community Bank N.A. bought a new position in shares of DTE Energy in the second quarter worth approximately $31,000. N.E.W. Advisory Services LLC bought a new position in shares of DTE Energy in the 2nd quarter worth $35,000. Finally, Optiver Holding B.V. purchased a new stake in DTE Energy during the first quarter valued at about $36,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About DTE Energy

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.