DTE Energy (NYSE:DTE) Given New $113.00 Price Target at BMO Capital Markets

DTE Energy (NYSE:DTE) had its price objective hoisted by equities research analysts at BMO Capital Markets from $111.00 to $113.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 7.31% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. KeyCorp boosted their target price on shares of DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Guggenheim downgraded shares of DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 target price on the stock. in a report on Monday, January 22nd. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Finally, Wolfe Research cut shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $114.56.

DTE Energy Price Performance

NYSE DTE traded up $2.10 on Wednesday, reaching $105.30. The company had a trading volume of 1,017,433 shares, compared to its average volume of 1,188,902. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $21.79 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. The firm’s 50 day moving average price is $108.61 and its 200 day moving average price is $105.55. DTE Energy has a 12 month low of $90.14 and a 12 month high of $116.73.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the firm posted $1.31 EPS. As a group, equities analysts predict that DTE Energy will post 6.7 earnings per share for the current year.

Insider Transactions at DTE Energy

In other news, SVP Joann Chavez sold 6,070 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares of the company’s stock, valued at approximately $1,819,869.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joann Chavez sold 6,070 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total transaction of $662,783.30. Following the transaction, the senior vice president now owns 16,667 shares in the company, valued at approximately $1,819,869.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,095 shares of company stock valued at $2,168,183. Company insiders own 0.28% of the company’s stock.

Institutional Trading of DTE Energy

Several large investors have recently made changes to their positions in the business. Glenmede Trust Co. NA grew its position in shares of DTE Energy by 0.9% in the third quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock valued at $12,815,000 after purchasing an additional 1,106 shares during the period. Raymond James & Associates raised its stake in shares of DTE Energy by 6.5% in the 4th quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock valued at $23,098,000 after acquiring an additional 12,871 shares during the period. SG Americas Securities LLC raised its stake in shares of DTE Energy by 273.2% in the 4th quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock valued at $5,300,000 after acquiring an additional 35,189 shares during the period. HITE Hedge Asset Management LLC raised its stake in shares of DTE Energy by 302.3% in the 4th quarter. HITE Hedge Asset Management LLC now owns 162,249 shares of the utilities provider’s stock valued at $17,890,000 after acquiring an additional 121,921 shares during the period. Finally, Arvest Investments Inc. acquired a new position in shares of DTE Energy in the fourth quarter valued at approximately $2,581,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Company Profile

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.