DTE Energy (NYSE:DTE) Price Target Lowered to $141.00 at Morgan Stanley

DTE Energy (NYSE:DTE) had its price target lowered by stock analysts at Morgan Stanley from $148.00 to $141.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 9.08% from the stock’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Truist Financial dropped their price target on DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. TD Cowen started coverage on DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price target for the company. Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average price target of $156.46.

DTE Energy Stock Performance

Shares of DTE stock traded down $1.18 on Friday, reaching $129.26. The stock had a trading volume of 380,195 shares, compared to its average volume of 1,421,327. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The firm’s 50-day moving average is $140.04 and its two-hundred day moving average is $144.39. The firm has a market capitalization of $26.90 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.84 and a beta of 0.37. DTE Energy has a 12 month low of $126.23 and a 12 month high of $155.74.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter last year, the company posted $1.36 earnings per share. On average, research analysts expect that DTE Energy will post 7.71 EPS for the current fiscal year.

Insider Buying and Selling at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of DTE Energy stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the sale, the insider directly owned 73,122 shares of the company’s stock, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Trading of DTE Energy

Several institutional investors have recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in shares of DTE Energy during the fourth quarter worth $29,000. Key Financial Inc acquired a new position in shares of DTE Energy in the first quarter valued at about $29,000. First Bancorp Inc ME bought a new position in DTE Energy during the second quarter worth about $29,000. Community Bank N.A. bought a new position in DTE Energy during the second quarter worth about $31,000. Finally, SHP Wealth Management bought a new position in DTE Energy during the fourth quarter worth about $35,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Company Profile

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.