Wealth Enhancement Advisory Services LLC bought a new stake in shares of DTE Energy Co (NYSE:DTE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,575 shares of the utilities provider’s stock, valued at approximately $2,654,000.
Several other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of DTE Energy by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 2,344,758 shares of the utilities provider’s stock valued at $258,174,000 after buying an additional 150,611 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in DTE Energy in the 1st quarter valued at $719,000. Louisiana State Employees Retirement System raised its stake in DTE Energy by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the utilities provider’s stock valued at $1,198,000 after acquiring an additional 100 shares during the period. Retirement Systems of Alabama raised its stake in DTE Energy by 1.1% in the 1st quarter. Retirement Systems of Alabama now owns 84,711 shares of the utilities provider’s stock valued at $10,567,000 after acquiring an additional 884 shares during the period. Finally, Ford Financial Group Inc. bought a new stake in DTE Energy in the 1st quarter valued at $252,000. 70.32% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on DTE shares. ValuEngine cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Mizuho started coverage on DTE Energy in a research report on Monday. They issued a “neutral” rating and a $131.00 price target on the stock. UBS Group raised their price target on DTE Energy from $132.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Barclays restated a “hold” rating and issued a $131.00 price target on shares of DTE Energy in a research report on Thursday, June 20th. Finally, Bank of America decreased their price target on DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. DTE Energy presently has a consensus rating of “Hold” and an average price target of $126.36.
Shares of DTE Energy stock traded up $1.98 during midday trading on Thursday, reaching $128.14. The company had a trading volume of 32,157 shares, compared to its average volume of 838,763. The stock’s fifty day moving average is $129.13. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 3.44 and a beta of 0.24. DTE Energy Co has a fifty-two week low of $106.41 and a fifty-two week high of $132.09.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.10). The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.98 billion. DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Research analysts forecast that DTE Energy Co will post 6.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.78 annualized dividend and a dividend yield of 2.95%. DTE Energy’s dividend payout ratio is 60.00%.
DTE Energy Company Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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