115,133 Shares in DTE Energy Company $DTE Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC acquired 115,133 shares of DTE Energy in the second quarter, worth approximately $17.5 million. Institutional investors and hedge funds collectively own 76.06% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $158.46, despite recent target-price reductions from some brokerages.
• DTE Energy recently reported quarterly earnings of $1.32 per share, exceeding estimates of $1.14, and declared a quarterly dividend of $1.165 per share, representing a 3.4% annualized yield.

Ieq Capital LLC purchased a new stake in DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 115,133 shares of the utilities provider's stock, valued at approximately $17,543,000. Ieq Capital LLC owned 0.06% of DTE Energy at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on DTE. Weiss Ratings upgraded shares of DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Truist Financial decreased their target price on shares of DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. Barclays dropped their price target on shares of DTE Energy from $156.00 to $154.00 and set an "equal weight" rating for the company in a research report on Monday, May 4th. Finally, TD Cowen assumed coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a "hold" rating and a $166.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, DTE Energy currently has a consensus rating of "Moderate Buy" and an average price target of $158.46.

DTE Energy Stock Down 2.1%

Shares of NYSE DTE opened at $135.28 on Friday. The stock has a market capitalization of $28.15 billion, a P/E ratio of 21.41, a PEG ratio of 2.94 and a beta of 0.38. The stock's fifty day moving average is $146.13 and its 200 day moving average is $145.26. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80.

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

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. 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 73.73%.

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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