Morgan Stanley Trims DTE Energy (NYSE:DTE) Target Price to $111.00

DTE Energy (NYSE:DTE) had its price objective trimmed by Morgan Stanley from $116.00 to $111.00 in a research report released on Monday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other equities analysts have also recently issued reports on DTE. Barclays upped their target price on DTE Energy from $115.00 to $119.00 and gave the stock an overweight rating in a report on Tuesday, April 30th. TheStreet upgraded shares of DTE Energy from a c+ rating to a b- rating in a research report on Friday, March 15th. BMO Capital Markets upped their price target on shares of DTE Energy from $111.00 to $113.00 and gave the company a market perform rating in a research report on Wednesday, April 17th. Scotiabank cut their price target on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. increased their price objective on DTE Energy from $118.00 to $120.00 and gave the company a neutral rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $115.67.

DTE Energy Stock Up 0.5 %

Shares of NYSE DTE opened at $110.53 on Monday. The company has a market cap of $22.87 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.00 and a beta of 0.67. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. DTE Energy has a 12 month low of $90.14 and a 12 month high of $117.44. The stock has a 50-day moving average price of $112.71 and a two-hundred day moving average price of $109.93.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. As a group, analysts forecast that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

Insider Activity

In related news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the transaction, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at $4,862,836. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The disclosure for this sale can be found here. Insiders sold 14,698 shares of company stock worth $1,702,444 in the last quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DTE. Janus Henderson Group PLC increased its position in shares of DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after acquiring an additional 2,060,762 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of DTE Energy by 224.7% in the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after purchasing an additional 1,756,459 shares during the last quarter. Boston Partners lifted its holdings in shares of DTE Energy by 66.8% in the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after purchasing an additional 1,018,212 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of DTE Energy by 16.4% during the third quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after buying an additional 724,561 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of DTE Energy during the fourth quarter valued at approximately $74,478,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

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.