QRG Capital Management Inc. Boosts Holdings in DTE Energy Company (NYSE:DTE)

QRG Capital Management Inc. raised its position in shares of DTE Energy Company (NYSE:DTE) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,897 shares of the utilities provider’s stock after acquiring an additional 2,884 shares during the period. QRG Capital Management Inc.’s holdings in DTE Energy were worth $4,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its holdings in DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider’s stock valued at $1,250,000 after purchasing an additional 78 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of DTE Energy by 8.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after buying an additional 90 shares during the period. My Legacy Advisors LLC grew its stake in shares of DTE Energy by 2.4% during the first quarter. My Legacy Advisors LLC now owns 4,132 shares of the utilities provider’s stock valued at $571,000 after buying an additional 95 shares during the last quarter. Bernard Wealth Management Corp. raised its holdings in shares of DTE Energy by 1.0% in the first quarter. Bernard Wealth Management Corp. now owns 10,190 shares of the utilities provider’s stock worth $1,409,000 after buying an additional 101 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of DTE Energy by 0.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,281 shares of the utilities provider’s stock worth $3,294,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the subject of a number of recent analyst reports. Evercore ISI boosted their price objective on DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Guggenheim boosted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. BMO Capital Markets lifted their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a report on Monday, April 21st. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.93.

DTE Energy Price Performance

NYSE DTE opened at $132.00 on Wednesday. The company has a market cap of $27.39 billion, a PE ratio of 17.84, a P/E/G ratio of 2.41 and a beta of 0.45. The firm’s 50 day moving average price is $134.92 and its 200-day moving average price is $129.30. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.59 and a current ratio of 0.87. DTE Energy Company has a 52-week low of $108.40 and a 52-week high of $140.39.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. Sell-side analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy’s payout ratio is currently 58.92%.

DTE Energy Company Profile

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.