DTE Energy (NYSE:DTE) Price Target Raised to $147.00 at Guggenheim

DTE Energy (NYSE:DTE) had its price objective hoisted by investment analysts at Guggenheim from $139.00 to $147.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s price objective would suggest a potential upside of 7.16% from the company’s current price.

Several other analysts have also recently commented on the company. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank raised their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Morgan Stanley lifted their price objective on DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Stock Up 0.2 %

Shares of DTE stock opened at $137.18 on Friday. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.22. The stock has a market cap of $28.47 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The business’s fifty day moving average is $127.38 and its 200-day moving average is $124.87. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

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 analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Equities analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the sale, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,877 shares of company stock worth $1,559,205. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DTE. Capital World Investors boosted its holdings in shares of DTE Energy by 123.2% in the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock worth $823,905,000 after acquiring an additional 3,766,221 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after acquiring an additional 879,670 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of DTE Energy by 1,794.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock worth $111,159,000 after acquiring an additional 871,978 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of DTE Energy by 750.0% in the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock worth $116,482,000 after acquiring an additional 851,169 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of DTE Energy by 50.2% in the 4th quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider’s stock worth $297,358,000 after acquiring an additional 822,854 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

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.