Scotiabank Trims DTE Energy (NYSE:DTE) Target Price to $120.00

DTE Energy (NYSE:DTE) had its price target reduced by analysts at Scotiabank from $129.00 to $120.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s target price suggests a potential upside of 8.98% from the stock’s current price.

Several other research firms have also weighed in on DTE. KeyCorp upped their price target on DTE Energy from $106.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Barclays increased their price target on shares of DTE Energy from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, BMO Capital Markets lifted their price objective on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.10.

DTE Energy Stock Performance

Shares of DTE opened at $110.11 on Monday. The company has a 50-day moving average of $108.93 and a two-hundred day moving average of $105.98. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.70 and a beta of 0.64. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42. DTE Energy has a one year low of $90.14 and a one year high of $116.73.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.01. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter last year, the business posted $1.31 EPS. On average, equities research analysts expect that DTE Energy will post 6.71 earnings per share for the current year.

Insider Buying and Selling at DTE Energy

In related news, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the transaction, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at approximately $370,572.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the sale, the chief operating officer now directly owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now owns 3,462 shares in the company, valued at approximately $370,572.48. The disclosure for this sale can be found here. Insiders sold 20,095 shares of company stock worth $2,168,183 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Several hedge funds have recently made changes to their positions in the stock. WASHINGTON TRUST Co acquired a new position in DTE Energy in the 1st quarter valued at approximately $56,000. Stonegate Investment Group LLC acquired a new position in shares of DTE Energy in the first quarter valued at $290,000. PFG Investments LLC raised its stake in shares of DTE Energy by 380.6% in the first quarter. PFG Investments LLC now owns 9,804 shares of the utilities provider’s stock valued at $1,099,000 after purchasing an additional 7,764 shares in the last quarter. Raymond James & Associates lifted its position in DTE Energy by 59.3% in the first quarter. Raymond James & Associates now owns 333,766 shares of the utilities provider’s stock worth $37,429,000 after purchasing an additional 124,278 shares during the period. Finally, IFM Investors Pty Ltd boosted its stake in DTE Energy by 0.8% during the first quarter. IFM Investors Pty Ltd now owns 42,442 shares of the utilities provider’s stock worth $4,759,000 after buying an additional 326 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

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.