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

DTE Energy (NYSE:DTE) had its price objective hoisted by Guggenheim from $139.00 to $147.00 in a research report released on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Scotiabank raised their price target on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley raised their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average price target of $138.58.

DTE Energy Stock Up 0.2 %

DTE stock opened at $137.18 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $138.22. The firm’s 50-day simple moving average is $127.38 and its 200 day simple moving average is $124.87. 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.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. As a group, sell-side analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is 64.40%.

Insider Transactions at DTE Energy

In other news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the sale, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction 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. The trade was a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,877 shares of company stock worth $1,559,205. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new stake in DTE Energy during the third quarter worth $30,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy during the third quarter worth $35,000. Versant Capital Management Inc boosted its stake in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares in the last quarter. Mattson Financial Services LLC acquired a new stake in DTE Energy during the fourth quarter worth $38,000. Finally, Robbins Farley acquired a new stake in DTE Energy during the fourth quarter worth $57,000. Institutional investors and hedge funds 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.