Equitable Holdings Inc. purchased a new position in DTE Energy Company (NYSE:DTE – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,775 shares of the utilities provider’s stock, valued at approximately $1,032,000.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in DTE Energy during the second quarter worth $3,915,284,000. Jupiter Topco LLC acquired a new stake in DTE Energy in the second quarter valued at $477,264,000. Bank of America Corp DE purchased a new position in shares of DTE Energy in the second quarter valued at $417,001,000. Millennium Management LLC raised its stake in shares of DTE Energy by 227.4% during the 4th quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after buying an additional 1,895,631 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of DTE Energy during the 2nd quarter worth $199,563,000. 76.06% of the stock is owned by hedge funds and other institutional investors.
DTE Energy Stock Down 0.4%
DTE opened at $135.75 on Friday. 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 has a market cap of $28.25 billion, a P/E ratio of 21.48, a PEG ratio of 2.96 and a beta of 0.38. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The business’s fifty day simple moving average is $144.97 and its 200 day simple moving average is $145.30.
DTE Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 payout ratio is 73.73%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on DTE shares. Barclays lowered their price objective on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a report on Thursday, July 9th. Mizuho lowered their price target on shares of DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.00.
Read Our Latest Analysis on DTE
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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