DTE Energy (NYSE:DTE – Get Free Report) had its target price lifted by analysts at Wells Fargo & Company from $133.00 to $145.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 11.76% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Mizuho upped their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank increased their target price on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. KeyCorp lifted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target on the stock. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.46.
Get Our Latest Research Report on DTE Energy
DTE Energy Stock Performance
DTE Energy (NYSE:DTE – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.35. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3.17 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. On average, sell-side analysts anticipate that DTE Energy will post 6.7 EPS for the current year.
Institutional Investors Weigh In On DTE Energy
Hedge funds have recently made changes to their positions in the stock. SC&H Financial Advisors Inc. bought a new position in DTE Energy in the 3rd quarter valued at approximately $208,000. abrdn plc increased its holdings in shares of DTE Energy by 36.8% during the third quarter. abrdn plc now owns 76,361 shares of the utilities provider’s stock worth $9,777,000 after buying an additional 20,524 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of DTE Energy by 2.6% in the 3rd quarter. Pallas Capital Advisors LLC now owns 28,323 shares of the utilities provider’s stock valued at $3,675,000 after acquiring an additional 711 shares during the last quarter. Old Port Advisors bought a new position in shares of DTE Energy in the 3rd quarter valued at $219,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of DTE Energy during the 3rd quarter valued at $210,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.
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.
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