Morgan Stanley Boosts DTE Energy (NYSE:DTE) Price Target to $128.00

DTE Energy (NYSE:DTE) had its target price increased by Morgan Stanley from $121.00 to $128.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an overweight rating in a research report on Friday, July 26th. Scotiabank lifted their target price on shares of DTE Energy from $120.00 to $137.00 and gave the company a sector outperform rating in a report on Tuesday, August 20th. Bank of America boosted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock a buy rating in a research note on Thursday, August 29th. Mizuho raised their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the company an outperform rating in a research report on Tuesday, September 10th. Finally, BMO Capital Markets boosted their target price on DTE Energy from $126.00 to $135.00 and gave the stock a market perform rating in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $128.17.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $127.38 on Wednesday. DTE Energy has a one year low of $90.14 and a one year high of $127.89. The stock has a market capitalization of $26.36 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.32 and a beta of 0.67. The company has a 50-day simple moving average of $122.64 and a 200-day simple moving average of $115.36. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business earned $0.99 EPS. On average, analysts predict that DTE Energy will post 6.7 EPS for the current year.

Hedge Funds Weigh In On DTE Energy

Several hedge funds have recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. acquired a new stake in DTE Energy in the fourth quarter valued at $1,305,000. UniSuper Management Pty Ltd increased its holdings in DTE Energy by 407.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock valued at $1,202,000 after acquiring an additional 8,603 shares in the last quarter. Allianz Asset Management GmbH raised its position in DTE Energy by 66.5% during the fourth quarter. Allianz Asset Management GmbH now owns 29,575 shares of the utilities provider’s stock worth $3,261,000 after acquiring an additional 11,809 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in DTE Energy by 9.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock worth $13,934,000 after acquiring an additional 11,218 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of DTE Energy by 6.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock valued at $25,139,000 after purchasing an additional 14,022 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

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.