10,424 Shares in DTE Energy Company $DTE Bought by Dockside LLC

Key Points

• Dockside LLC bought 10,424 DTE Energy shares in the second quarter, valued at approximately $1.59 million. Institutional investors collectively own 76.06% of the utility company.
• DTE Energy reported quarterly EPS of $1.32, exceeding the $1.14 consensus estimate, on revenue of $6.74 billion. Analysts expect full-year EPS of $7.71.
• The company declared a quarterly dividend of $1.165 per share, equivalent to a 3.3% annual yield, while analysts maintain a “Moderate Buy” consensus and a $158.62 average price target.

Dockside LLC purchased a new position in DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,424 shares of the utilities provider's stock, valued at approximately $1,588,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTE. Laurel Wealth Advisors LLC bought a new position in shares of DTE Energy during the 4th quarter worth about $25,000. Quest 10 Wealth Builders Inc. raised its stake in DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider's stock worth $26,000 after buying an additional 181 shares during the period. Torren Management LLC acquired a new position in DTE Energy during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in DTE Energy in the fourth quarter worth approximately $29,000. Finally, Key Financial Inc acquired a new stake in DTE Energy in the first quarter valued at approximately $29,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Up 0.9%

DTE stock opened at $140.84 on Friday. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. 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 stock's 50 day moving average is $146.83 and its 200-day moving average is $145.14. The firm has a market capitalization of $29.31 billion, a PE ratio of 22.29, a P/E/G ratio of 3.05 and a beta of 0.38.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the prior year, the company posted $1.36 earnings per share. Sell-side analysts expect that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. DTE Energy's dividend payout ratio is presently 73.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on DTE shares. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. BMO Capital Markets boosted their price target on shares of DTE Energy from $148.00 to $150.00 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a report on Thursday, July 9th. Weiss Ratings raised shares of DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Finally, TD Cowen assumed coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.62.

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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