DTE Energy (NYSE:DTE) Price Target Cut to $128.00 by Analysts at Morgan Stanley

DTE Energy (NYSE:DTE) had its target price cut by Morgan Stanley from $131.00 to $128.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the stock. KeyCorp increased their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. LADENBURG THALM/SH SH started coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Bank of America upped their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Barclays upped their price objective on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets raised their target price on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Trading Up 0.5 %

Shares of DTE opened at $124.60 on Friday. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The stock has a market cap of $25.80 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. The firm’s fifty day moving average is $124.66 and its two-hundred day moving average is $119.70. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

Institutional Investors Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in DTE Energy in the 3rd quarter valued at $30,000. Prospera Private Wealth LLC acquired a new position in DTE Energy in the third quarter valued at $35,000. Ashton Thomas Securities LLC purchased a new stake in shares of DTE Energy in the third quarter valued at about $35,000. Ridgewood Investments LLC purchased a new stake in shares of DTE Energy in the second quarter valued at about $31,000. Finally, Coastline Trust Co acquired a new stake in shares of DTE Energy during the third quarter worth about $39,000. Hedge funds and other institutional investors own 76.06% 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 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.