Scotiabank Issues Positive Forecast for DTE Energy (NYSE:DTE) Stock Price

DTE Energy (NYSE:DTE) had its target price lifted by stock analysts at Scotiabank from $137.00 to $147.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price objective would indicate a potential upside of 21.22% from the company’s current price.

DTE has been the topic of several other research reports. Bank of America upped their target price on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Mizuho raised their target price on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target on the stock. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group assumed coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $121.27 on Thursday. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The business’s 50 day simple moving average is $123.71 and its 200-day simple moving average is $120.47. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66.

Institutional Investors Weigh In On DTE Energy

Hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after purchasing an additional 662,569 shares during the period. Mizuho Securities USA LLC increased its holdings in shares of DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after buying an additional 7,023,042 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of DTE Energy by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after buying an additional 86,205 shares during the period. Janus Henderson Group PLC boosted its holdings in DTE Energy by 2.4% in the third quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock valued at $349,309,000 after acquiring an additional 64,880 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in DTE Energy by 3.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after acquiring an additional 59,811 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

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.