Commerce Bank acquired a new position in shares of DTE Energy Company (NYSE:DTE – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,414 shares of the utilities provider’s stock, valued at approximately $3,415,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of DTE Energy during the second quarter worth about $1,116,000. Evolve Private Wealth LLC bought a new stake in DTE Energy in the second quarter valued at about $928,000. Landscape Capital Management L.L.C. bought a new stake in DTE Energy in the second quarter valued at about $589,000. Korea Investment CORP bought a new stake in DTE Energy in the second quarter valued at about $6,942,000. Finally, EP Wealth Advisors LLC acquired a new stake in DTE Energy during the second quarter valued at approximately $4,395,000. Institutional investors own 76.06% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on DTE. Jefferies Financial Group set a $172.00 target price on DTE Energy in a report on Thursday, July 9th. TD Cowen assumed coverage on DTE Energy in a research report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price target on the stock. Weiss Ratings raised DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Morgan Stanley decreased their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a report on Friday. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.46.
DTE Energy Stock Performance
Shares of NYSE DTE opened at $135.71 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The firm’s 50-day moving average price is $145.89 and its two-hundred day moving average price is $145.34. DTE Energy Company has a 52-week low of $126.23 and a 52-week high of $155.74. The stock has a market capitalization of $28.24 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.94 and a beta of 0.38.
DTE Energy (NYSE:DTE – Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same period in the prior year, the company earned $1.36 earnings per share. As a group, sell-side analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current year.
DTE Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. DTE Energy’s payout ratio is currently 73.73%.
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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