Elevation Point Wealth Partners LLC bought a new position in DTE Energy Company (NYSE:DTE – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 9,133 shares of the utilities provider’s stock, valued at approximately $1,402,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Vanguard Group Inc. boosted its holdings in DTE Energy by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock valued at $3,392,888,000 after acquiring an additional 766,499 shares during the period. BlackRock Inc. acquired a new stake in DTE Energy in the 2nd quarter valued at approximately $3,915,284,000. Capital Research Global Investors increased its position in DTE Energy by 3.1% in the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock worth $1,605,539,000 after buying an additional 379,443 shares during the period. State Street Corp increased its position in DTE Energy by 2.5% in the 4th quarter. State Street Corp now owns 11,078,346 shares of the utilities provider’s stock worth $1,441,776,000 after buying an additional 272,068 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of DTE Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock worth $718,668,000 after buying an additional 117,322 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.
DTE Energy Stock Up 0.0%
NYSE DTE opened at $135.28 on Monday. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a market capitalization of $28.15 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.94 and a beta of 0.38. The stock’s 50 day moving average is $146.13 and its two-hundred day moving average is $145.34. 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 Dividend Announcement
The business also recently disclosed 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 of this dividend 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 (DPR) is presently 73.73%.
Analyst Ratings Changes
Several analysts have issued reports on DTE shares. Morgan Stanley decreased their price target on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial reduced their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. TD Cowen started coverage on DTE Energy in a research report on Tuesday, July 7th. They set a “hold” rating and a $166.00 target price on the stock. BMO Capital Markets boosted their price target on DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. 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 research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.46.
View Our Latest Stock Report on DTE Energy
DTE Energy 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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