DTE Energy (NYSE:DTE) Price Target Raised to $138.00 at KeyCorp

DTE Energy (NYSE:DTE) had its price target boosted by KeyCorp from $136.00 to $138.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for DTE Energy’s Q3 2024 earnings at $1.98 EPS, Q4 2024 earnings at $1.76 EPS and FY2028 earnings at $9.17 EPS.

Several other analysts have also recently commented on DTE. Scotiabank lifted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. BMO Capital Markets boosted their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Finally, Morgan Stanley boosted their target price on shares of DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average target price of $131.46.

DTE Energy Stock Down 2.5 %

NYSE:DTE opened at $126.57 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. DTE Energy has a twelve month low of $92.58 and a twelve month high of $131.66. The company’s 50 day moving average is $125.68 and its two-hundred day moving average is $117.75. The company has a market cap of $26.19 billion, a PE ratio of 20.77, a P/E/G ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, October 24th. The utilities provider reported $2.22 EPS for the quarter, beating the consensus estimate of $1.87 by $0.35. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Analysts anticipate that DTE Energy will post 6.7 EPS for the current year.

Institutional Investors Weigh In On DTE Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in DTE Energy by 1.2% in the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after acquiring an additional 261,623 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of DTE Energy by 1.6% during the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after buying an additional 86,205 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of DTE Energy by 224.7% during the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after buying an additional 1,756,459 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after buying an additional 2,060,762 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of DTE Energy by 3.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock worth $185,066,000 after buying an additional 59,811 shares in the last quarter. Hedge funds and other 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.