LifeWealth Investments LLC Acquires Shares of 2,442 DTE Energy Company (NYSE:DTE)

LifeWealth Investments LLC acquired a new stake in DTE Energy Company (NYSE:DTE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,442 shares of the utilities provider’s stock, valued at approximately $338,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in DTE Energy by 16.0% in the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 336 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after buying an additional 2,642 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of DTE Energy by 39.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock worth $693,000 after buying an additional 1,618 shares during the last quarter. M&T Bank Corp boosted its stake in shares of DTE Energy by 4.4% in the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock worth $1,139,000 after buying an additional 395 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in DTE Energy by 2.0% during the fourth quarter. Truist Financial Corp now owns 12,027 shares of the utilities provider’s stock worth $1,452,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of analyst reports. Guggenheim boosted their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. BMO Capital Markets boosted their target price on shares of DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research note on Monday, April 21st. Morgan Stanley lowered their price target on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Finally, Citigroup reissued a “buy” rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.93.

DTE Energy Trading Down 0.9%

DTE stock opened at $132.00 on Wednesday. DTE Energy Company has a 12-month low of $108.40 and a 12-month high of $140.39. The business’s 50-day moving average is $134.92 and its 200 day moving average is $129.30. The company has a current ratio of 0.87, a quick ratio of 0.59 and a debt-to-equity ratio of 1.82. The stock has a market cap of $27.39 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.41 and a beta of 0.45.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $1.67 earnings per share. On average, sell-side analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Monday, June 16th. DTE Energy’s dividend payout ratio (DPR) is 58.92%.

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.