Morgan Stanley Increases DTE Energy (NYSE:DTE) Price Target to $131.00

DTE Energy (NYSE:DTEGet Rating) had its price target boosted by Morgan Stanley from $130.00 to $131.00 in a research report released on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. Mizuho increased their price target on shares of DTE Energy from $115.00 to $122.00 and gave the stock a buy rating in a report on Monday, November 21st. Guggenheim dropped their price target on DTE Energy from $145.00 to $122.00 in a research note on Monday, October 24th. Wells Fargo & Company increased their price objective on DTE Energy from $128.00 to $138.00 in a research report on Wednesday, December 14th. Citigroup dropped their target price on DTE Energy from $146.00 to $139.00 in a research report on Friday, October 28th. Finally, StockNews.com initiated coverage on shares of DTE Energy in a research report on Wednesday, October 12th. They set a hold rating on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $130.42.

DTE Energy Stock Performance

DTE Energy stock opened at $113.77 on Monday. DTE Energy has a 1-year low of $100.64 and a 1-year high of $140.23. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $22.04 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 3.04 and a beta of 0.58. The firm’s 50 day simple moving average is $116.70 and its 200 day simple moving average is $120.76.

DTE Energy (NYSE:DTEGet Rating) last released its quarterly earnings results on Thursday, October 27th. The utilities provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. DTE Energy had a net margin of 5.79% and a return on equity of 12.90%. The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. As a group, analysts expect that DTE Energy will post 6.01 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Stockholders of record on Monday, December 19th were given a $0.952 dividend. This represents a $3.81 annualized dividend and a dividend yield of 3.35%. This is a boost from DTE Energy’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, December 16th. DTE Energy’s dividend payout ratio (DPR) is currently 65.92%.

Institutional Trading of DTE Energy

Several large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of DTE Energy by 16.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 288,896 shares of the utilities provider’s stock valued at $33,954,000 after purchasing an additional 40,885 shares in the last quarter. Veriti Management LLC increased its stake in shares of DTE Energy by 3.9% in the 4th quarter. Veriti Management LLC now owns 2,708 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 101 shares in the last quarter. Secure Asset Management LLC lifted its position in DTE Energy by 21.6% during the 4th quarter. Secure Asset Management LLC now owns 8,379 shares of the utilities provider’s stock valued at $985,000 after acquiring an additional 1,490 shares during the period. Chicago Capital LLC boosted its stake in DTE Energy by 3.7% during the fourth quarter. Chicago Capital LLC now owns 4,218 shares of the utilities provider’s stock worth $496,000 after acquiring an additional 150 shares in the last quarter. Finally, Strategic Investment Advisors MI grew its holdings in DTE Energy by 18.2% in the fourth quarter. Strategic Investment Advisors MI now owns 10,082 shares of the utilities provider’s stock worth $1,185,000 after purchasing an additional 1,553 shares during the period. 74.55% of the stock is owned by institutional investors.

About DTE Energy

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DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.

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Analyst Recommendations for DTE Energy (NYSE:DTE)

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