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

DTE Energy (NYSE:DTE - Get Free Report) had its price objective reduced by research analysts at Morgan Stanley from $131.00 to $128.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's price objective would indicate a potential upside of 2.47% from the company's current price.

Several other equities research analysts have also weighed in on DTE. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a report on Wednesday, August 14th. They issued a "buy" rating and a $131.00 price objective for the company. Bank of America boosted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Scotiabank upped their price target on shares of DTE Energy from $120.00 to $137.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, Mizuho increased their target price on DTE Energy from $121.00 to $133.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.46.

DTE Energy Stock Performance

Shares of NYSE:DTE traded up $0.94 during midday trading on Friday, reaching $124.92. The company had a trading volume of 177,717 shares, compared to its average volume of 1,117,445. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The company's 50 day moving average price is $124.69 and its 200 day moving average price is $119.54. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The stock has a market cap of $25.87 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.24 and a beta of 0.68.

Hedge Funds Weigh In On DTE Energy

A number of large investors have recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy during the third quarter worth approximately $30,000. Prospera Private Wealth LLC purchased a new position in DTE Energy in the 3rd quarter worth $35,000. Ashton Thomas Securities LLC bought a new stake in DTE Energy in the third quarter worth $35,000. Ridgewood Investments LLC bought a new position in shares of DTE Energy during the second quarter valued at about $31,000. Finally, Coastline Trust Co purchased a new position in DTE Energy in the 3rd quarter worth approximately $39,000. 76.06% 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 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.

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