OneDigital Investment Advisors LLC acquired a new stake in DTE Energy Company (NYSE:DTE – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,842 shares of the utilities provider’s stock, valued at approximately $585,000.
Several other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in DTE Energy in the fourth quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted its position in shares of DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 181 shares in the last quarter. Torren Management LLC acquired a new position in shares of DTE Energy during the 4th quarter worth about $26,000. Elyxium Wealth LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at about $29,000. Finally, Key Financial Inc purchased a new position in shares of DTE Energy in the 1st quarter valued at about $29,000. 76.06% of the stock is owned by hedge funds and other institutional investors.
DTE Energy Trading Down 0.5%
NYSE:DTE opened at $140.42 on Wednesday. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The stock’s 50 day simple moving average is $146.68 and its 200-day simple moving average is $145.26. The firm has a market cap of $29.22 billion, a P/E ratio of 22.22, a PEG ratio of 3.08 and a beta of 0.38.
DTE Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a $1.165 dividend. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is 73.73%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on DTE. Barclays lowered their target price on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. Truist Financial cut their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Morgan Stanley reissued an “overweight” rating on shares of DTE Energy in a research report on Wednesday, July 22nd. Wells Fargo & Company restated an “overweight” rating and issued a $165.00 price objective on shares of DTE Energy in a research note on Monday, June 15th. Finally, JPMorgan Chase & Co. raised their price objective on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average price target of $158.62.
Get Our Latest Stock Report on DTE
About DTE Energy
DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.
Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.
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