Vise Technologies Inc. bought a new stake in DTE Energy Company (NYSE:DTE – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 13,229 shares of the utilities provider’s stock, valued at approximately $2,016,000.
Several other institutional investors also recently bought and sold shares of DTE. Laurel Wealth Advisors LLC bought a new position in DTE Energy during the 4th quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. increased its stake in DTE Energy by 754.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 181 shares during the period. Torren Management LLC bought a new stake in DTE Energy in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new stake in DTE Energy in the fourth quarter valued at approximately $29,000. Finally, Key Financial Inc purchased a new stake in shares of DTE Energy during the first quarter valued at approximately $29,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on DTE shares. Mizuho cut their target price on shares of DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. BMO Capital Markets increased their price target on shares of DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Barclays cut their price target on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley lowered their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.46.
DTE Energy Trading Down 2.1%
Shares of DTE opened at $135.28 on Friday. The firm’s 50-day moving average price is $146.13 and its 200-day moving average price is $145.26. The firm has a market capitalization of $28.15 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.00 and a beta of 0.38. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74.
DTE Energy (NYSE:DTE – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. Sell-side analysts anticipate that DTE Energy Company will post 7.71 EPS for the current year.
DTE Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. DTE Energy’s dividend payout ratio is 73.73%.
DTE Energy Company Profile
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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