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

DTE Energy (NYSE:DTE) had its price objective hoisted by equities research analysts at Morgan Stanley from $131.00 to $136.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential downside of 0.27% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. BMO Capital Markets lifted their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Scotiabank lifted their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Finally, Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $137.82.

DTE Energy Stock Performance

Shares of NYSE DTE traded up $0.21 during mid-day trading on Thursday, reaching $136.38. 156,313 shares of the company’s stock were exchanged, compared to its average volume of 1,079,408. The firm has a market capitalization of $28.26 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a 52 week low of $103.06 and a 52 week high of $138.53. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The firm has a 50-day moving average price of $126.71 and a two-hundred day moving average price of $124.70.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Analysts predict that DTE Energy will post 7.18 EPS for the current year.

Insider Activity

In related news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy during the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at approximately $35,000. Versant Capital Management Inc boosted its holdings in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the period. Mattson Financial Services LLC purchased a new position in DTE Energy during the 4th quarter valued at $38,000. Finally, Robbins Farley purchased a new position in DTE Energy during the 4th quarter valued at $57,000. 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.