DTE Energy (DTE) Price Target Raised to $118.00 at Wells Fargo & Co

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DTE Energy (NYSE:DTE) had its target price raised by investment analysts at Wells Fargo & Co from $113.00 to $118.00 in a research note issued to investors on Monday, September 17th, Stock Target Advisor reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 7.14% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Citigroup lifted their target price on shares of DTE Energy from $103.00 to $110.00 and gave the stock a “hold” rating in a research note on Monday, September 10th. Barclays assumed coverage on shares of DTE Energy in a research note on Wednesday, August 15th. They issued an “equal weight” rating and a $116.00 target price for the company. Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Monday, July 30th. KeyCorp lifted their target price on shares of DTE Energy from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Finally, Scotiabank assumed coverage on shares of DTE Energy in a research note on Tuesday, July 24th. They issued a “buy” rating and a $115.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $113.73.

Shares of NYSE:DTE traded down $0.44 during trading on Monday, reaching $110.14. The stock had a trading volume of 1,155,948 shares, compared to its average volume of 1,229,628. The stock has a market capitalization of $19.84 billion, a P/E ratio of 19.70, a P/E/G ratio of 3.32 and a beta of 0.11. 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 one year low of $94.25 and a one year high of $116.74.

DTE Energy (NYSE:DTE) last released its earnings results on Wednesday, July 25th. The utilities provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $2.57 billion. DTE Energy had a net margin of 8.58% and a return on equity of 10.63%. During the same period last year, the business earned $1.07 EPS. On average, research analysts forecast that DTE Energy will post 6.16 EPS for the current year.

In other DTE Energy news, 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 transaction of $45,790.74. Following the completion of the sale, the vice president now directly owns 2,250 shares in the company, valued at approximately $241,852.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter B. Oleksiak sold 1,000 shares of DTE Energy stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $108.39, for a total transaction of $108,390.00. Following the sale, the insider now owns 28,555 shares of the company’s stock, valued at $3,095,076.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,226 shares of company stock valued at $1,674,057. Company insiders own 0.59% of the company’s stock.

Large investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC increased its holdings in shares of DTE Energy by 89.3% during the 2nd 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. Commonwealth Bank of Australia increased its holdings in shares of DTE Energy by 5.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 18,625 shares of the utilities provider’s stock valued at $1,923,000 after purchasing an additional 965 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of DTE Energy by 20.4% during the 2nd quarter. Toronto Dominion Bank now owns 116,458 shares of the utilities provider’s stock valued at $12,067,000 after purchasing an additional 19,760 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in shares of DTE Energy by 49.0% during the 2nd quarter. Standard Life Aberdeen plc now owns 84,510 shares of the utilities provider’s stock valued at $8,759,000 after purchasing an additional 27,792 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of DTE Energy by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 1,744,677 shares of the utilities provider’s stock valued at $180,833,000 after purchasing an additional 139,879 shares in the last quarter. 70.93% of the stock is owned by hedge funds and other institutional investors.

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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