Truist Financial Has Lowered Expectations for DTE Energy (NYSE:DTE) Stock Price

DTE Energy (NYSE:DTE) had its target price lowered by stock analysts at Truist Financial from $160.00 to $150.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. Truist Financial’s price target indicates a potential upside of 16.97% from the company’s previous close.

Several other equities research analysts have also issued reports on DTE. BMO Capital Markets lifted their price target on shares of DTE Energy from $132.00 to $134.00 and gave the company a “market perform” rating in a research note on Monday, October 5th. Mizuho reduced their price objective on shares of DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. TD Cowen began coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They set a “hold” rating and a $166.00 price objective for the company. Wall Street Zen upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Finally, Morgan Stanley lowered their target price on DTE Energy from $148.00 to $141.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $152.31.

DTE Energy Stock Down 0.1%

Shares of DTE stock opened at $128.24 on Friday. The firm has a fifty day moving average of $131.84 and a 200-day moving average of $141.34. 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 has a 12-month low of $119.68 and a 12-month high of $155.74. The company has a market capitalization of $26.69 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 2.53 and a beta of 0.36.

DTE Energy (NYSE:DTE) last announced 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 business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%. During the same quarter last year, the firm earned $1.36 EPS. As a group, equities research analysts predict that DTE Energy will post 7.70 earnings per share for the current fiscal year.

Insider Activity at DTE Energy

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of DTE Energy stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the transaction, the insider directly owned 73,122 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of DTE Energy during the 2nd quarter worth approximately $3,915,284,000. Jupiter Topco LLC acquired a new stake in shares of DTE Energy in the second quarter valued at approximately $477,264,000. Janus Henderson Group PLC raised its position in shares of DTE Energy by 1.3% in the first quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock valued at $451,022,000 after buying an additional 40,346 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of DTE Energy in the second quarter valued at approximately $417,001,000. Finally, Soroban Capital Partners LP boosted its stake in shares of DTE Energy by 2.0% in the first quarter. Soroban Capital Partners LP now owns 2,038,473 shares of the utilities provider’s stock valued at $298,066,000 after buying an additional 39,963 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

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.