DTE Energy (NYSE:DTE) Given New $147.00 Price Target at Scotiabank

DTE Energy (NYSE:DTE) had its target price boosted by Scotiabank from $137.00 to $147.00 in a research note published on Thursday morning,Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

DTE has been the topic of several other research reports. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price on the stock. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Barclays lifted their target price on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley dropped their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

DTE Energy Price Performance

DTE opened at $121.28 on Thursday. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $25.12 billion, a P/E ratio of 16.43, a PEG ratio of 2.23 and a beta of 0.68. The stock has a fifty day moving average of $123.71 and a 200-day moving average of $120.52.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $1.09 per share. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.59%. DTE Energy’s dividend payout ratio is presently 59.08%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DTE. Legacy Investment Solutions LLC bought a new stake in shares of DTE Energy in the third quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy in the 3rd quarter worth $35,000. Ashton Thomas Securities LLC acquired a new position in shares of DTE Energy during the third quarter valued at about $35,000. Ridgewood Investments LLC acquired a new stake in DTE Energy during the second quarter worth about $31,000. Finally, Coastline Trust Co acquired a new position in DTE Energy in the 3rd quarter valued at approximately $39,000. 76.06% of the stock is owned by 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.