Morgan Stanley Maintains DTE Energy (DTE) Overweight Recommendation

Fintel reports that on September 21, 2023, Morgan Stanley maintained coverage of DTE Energy (NYSE:DTE) with a Overweight recommendation.

Analyst Price Forecast Suggests 19.99% Upside

As of August 31, 2023, the average one-year price target for DTE Energy is 128.01. The forecasts range from a low of 116.15 to a high of $151.20. The average price target represents an increase of 19.99% from its latest reported closing price of 106.68.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for DTE Energy is 15,397MM, a decrease of 4.90%. The projected annual non-GAAP EPS is 6.33.

DTE Energy Declares $0.95 Dividend

On June 22, 2023 the company declared a regular quarterly dividend of $0.95 per share ($3.81 annualized). Shareholders of record as of September 18, 2023 will receive the payment on October 15, 2023. Previously, the company paid $0.95 per share.

At the current share price of $106.68 / share, the stock's dividend yield is 3.57%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.62%, the lowest has been 2.58%, and the highest has been 6.20%. The standard deviation of yields is 0.53 (n=234).

The current dividend yield is 0.08 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.61. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.06%.

What is the Fund Sentiment?

There are 1424 funds or institutions reporting positions in DTE Energy. This is a decrease of 67 owner(s) or 4.49% in the last quarter. Average portfolio weight of all funds dedicated to DTE is 0.24%, a decrease of 5.36%. Total shares owned by institutions increased in the last three months by 1.56% to 190,626K shares. The put/call ratio of DTE is 0.84, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital Research Global Investors holds 17,435K shares representing 8.46% ownership of the company. In it's prior filing, the firm reported owning 15,766K shares, representing an increase of 9.57%. The firm increased its portfolio allocation in DTE by 4.29% over the last quarter.

AMECX - INCOME FUND OF AMERICA holds 6,298K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 6,691K shares, representing a decrease of 6.24%. The firm decreased its portfolio allocation in DTE by 7.62% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,795K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 5,096K shares, representing an increase of 12.07%. The firm increased its portfolio allocation in DTE by 5.39% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 4,907K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 4,521K shares, representing an increase of 7.87%. The firm decreased its portfolio allocation in DTE by 1.26% over the last quarter.

Ameriprise Financial holds 4,406K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 2,976K shares, representing an increase of 32.46%. The firm increased its portfolio allocation in DTE by 671.88% over the last quarter.

DTE Energy Background Information
(This description is provided by the company.)

DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects; renewable natural gas; natural gas pipelines, gathering and storage; and energy marketing and trading. As an environmental leader, DTE utility operations will reduce carbon dioxide and methane emissions by more than 80% by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE Electric aspires to achieve net zero carbon by 2050. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress.

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