DTE Energy (DTE) PT Raised to $113.00 at Wells Fargo & Co
DTE Energy (NYSE:DTE) had its target price upped by Wells Fargo & Co from $103.00 to $113.00 in a research report report published on Tuesday morning, The Fly reports. They currently have a market perform rating on the utilities provider’s stock.
Other equities analysts have also recently issued reports about the company. Guggenheim reissued a buy rating and set a $114.00 target price on shares of DTE Energy in a research note on Monday, July 23rd. Zacks Investment Research raised DTE Energy from a sell rating to a hold rating in a research note on Thursday, July 12th. KeyCorp boosted their target price on DTE Energy from $115.00 to $118.00 and gave the company an overweight rating in a research note on Friday, July 27th. Howard Weil began coverage on DTE Energy in a research note on Tuesday, July 24th. They set a sector outperform rating and a $115.00 target price on the stock. Finally, Scotiabank began coverage on DTE Energy in a research note on Tuesday, July 24th. They set a buy rating and a $115.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. DTE Energy has an average rating of Hold and a consensus target price of $113.00.
DTE opened at $113.62 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 1.16. DTE Energy has a 52-week low of $94.25 and a 52-week high of $116.74. The company has a market cap of $20.06 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 3.36 and a beta of 0.15.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 17th will be given a dividend of $0.8825 per share. The ex-dividend date is Friday, September 14th. This represents a $3.53 annualized dividend and a dividend yield of 3.11%. DTE Energy’s dividend payout ratio is presently 63.15%.
In related news, insider Trevor F. Lauer sold 3,800 shares of DTE Energy stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $110.02, for a total transaction of $418,076.00. Following the sale, the insider now directly owns 11,989 shares in the company, valued at $1,319,029.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lisa A. Muschong sold 426 shares of DTE Energy stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $107.49, for a total value of $45,790.74. Following the sale, the vice president now owns 2,250 shares in the company, valued at $241,852.50. The disclosure for this sale can be found here. Insiders have sold 16,226 shares of company stock worth $1,773,947 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Valeo Financial Advisors LLC boosted its position in shares of DTE Energy by 89.3% during the second quarter. Valeo Financial Advisors LLC now owns 1,550 shares of the utilities provider’s stock valued at $172,000 after purchasing an additional 731 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in shares of DTE Energy during the first quarter valued at approximately $179,000. HL Financial Services LLC bought a new stake in shares of DTE Energy during the first quarter valued at approximately $208,000. Piedmont Investment Advisors LLC bought a new stake in shares of DTE Energy during the second quarter valued at approximately $220,000. Finally, Greenleaf Trust bought a new stake in shares of DTE Energy during the second quarter valued at approximately $220,000. Institutional investors own 70.14% 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 approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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