Resona Asset Management Co. Ltd. Grows Stake in DTE Energy Company $DTE

Resona Asset Management Co. Ltd. increased its stake in shares of DTE Energy Company (NYSE:DTE) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,463 shares of the utilities provider’s stock after purchasing an additional 4,845 shares during the period. Resona Asset Management Co. Ltd.’s holdings in DTE Energy were worth $9,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of DTE. Goldman Sachs Group Inc. lifted its position in shares of DTE Energy by 65.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider’s stock valued at $223,019,000 after acquiring an additional 637,378 shares in the last quarter. JPMorgan Chase & Co. raised its stake in DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock valued at $194,341,000 after purchasing an additional 512,567 shares during the last quarter. Nuveen LLC purchased a new position in DTE Energy in the 1st quarter valued at $67,315,000. The Manufacturers Life Insurance Company boosted its stake in DTE Energy by 44.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 721,209 shares of the utilities provider’s stock worth $99,722,000 after purchasing an additional 222,894 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of DTE Energy by 33.3% during the first quarter. BNP Paribas Financial Markets now owns 510,321 shares of the utilities provider’s stock worth $70,562,000 after buying an additional 127,543 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president owned 4,153 shares of the company’s stock, valued at $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by insiders.

DTE Energy Stock Up 1.9%

Shares of DTE opened at $136.67 on Friday. The company’s 50-day moving average price is $138.37 and its 200 day moving average price is $136.77. DTE Energy Company has a 12-month low of $116.30 and a 12-month high of $143.79. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The firm has a market cap of $28.38 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, October 30th. The utilities provider reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.15. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period last year, the business earned $2.22 earnings per share. DTE Energy has set its FY 2025 guidance at 7.090-7.230 EPS. FY 2026 guidance at 7.590-7.730 EPS. On average, sell-side analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DTE. Barclays boosted their price target on shares of DTE Energy from $138.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. UBS Group increased their price target on DTE Energy from $148.00 to $158.00 and gave the company a “buy” rating in a report on Friday, October 10th. Scotiabank lowered their price objective on DTE Energy from $147.00 to $146.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. Morgan Stanley raised their target price on DTE Energy from $137.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Jefferies Financial Group reissued a “hold” rating and set a $149.00 price target on shares of DTE Energy in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $149.25.

DTE Energy 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.