Landscape Capital Management L.L.C. bought a new stake in DTE Energy Company (NYSE:DTE – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,868 shares of the utilities provider’s stock, valued at approximately $589,000.
Other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new stake in DTE Energy during the 1st quarter valued at about $1,550,000. Convergence Investment Partners LLC purchased a new position in DTE Energy in the 1st quarter worth approximately $3,142,000. Capital Innovations LLC purchased a new position in DTE Energy in the 4th quarter worth approximately $1,014,000. Vanguard Group Inc. lifted its stake in DTE Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock worth $3,392,888,000 after purchasing an additional 766,499 shares in the last quarter. Finally, Oxbow Advisors LLC acquired a new position in shares of DTE Energy during the 4th quarter worth approximately $3,145,000. 76.06% of the stock is owned by institutional investors and hedge funds.
DTE Energy Price Performance
Shares of DTE stock opened at $135.28 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The company has a market capitalization of $28.15 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.94 and a beta of 0.38. The firm’s 50-day moving average is $146.13 and its two-hundred day moving average is $145.34. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74.
DTE Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a $1.165 dividend. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. DTE Energy’s dividend payout ratio is currently 73.73%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on DTE. Morgan Stanley dropped their price target on DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research report on Friday. Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings raised DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Jefferies Financial Group set a $172.00 target price on DTE Energy in a report on Thursday, July 9th. Finally, Truist Financial dropped their target price on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.46.
Check Out Our Latest Stock Report on DTE Energy
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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