Northwestern Mutual Wealth Management Co. bought a new position in DTE Energy Company (NYSE:DTE – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,327 shares of the utilities provider’s stock, valued at approximately $1,116,000.
Several other large investors have also recently bought and sold shares of the company. Evolve Private Wealth LLC acquired a new stake in shares of DTE Energy during the second quarter valued at about $928,000. Landscape Capital Management L.L.C. bought a new stake in shares of DTE Energy during the second quarter worth about $589,000. Korea Investment CORP acquired a new position in shares of DTE Energy in the second quarter valued at approximately $6,942,000. EP Wealth Advisors LLC acquired a new position in shares of DTE Energy in the second quarter valued at approximately $4,395,000. Finally, M1 Capital Management LLC bought a new position in DTE Energy in the 2nd quarter valued at approximately $1,213,000. 76.06% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Morgan Stanley decreased their price target on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research report on Friday. TD Cowen began coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They set a “hold” rating and a $166.00 price target for the company. 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. Finally, Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $158.46.
DTE Energy Price Performance
Shares of DTE opened at $136.16 on Wednesday. The business has a 50-day moving average of $145.63 and a 200-day moving average of $145.35. 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 $28.33 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38. 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 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 business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations 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 business posted $1.36 earnings per share. As a group, equities research analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current year.
DTE Energy Announces Dividend
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend 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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