13,811 Shares in DTE Energy Company $DTE Acquired by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC acquired 13,811 shares of DTE Energy, valued at approximately $1.91 million, during the first quarter.
• DTE Energy reported $1.36 EPS for the most recent quarter, slightly missing estimates, but had revenues of $2.91 billion, surpassing expectations.
• The company announced a quarterly dividend of $1.09 per share, with a dividend yield of 3.2%, to be paid on October 15th.

Great Lakes Advisors LLC purchased a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,811 shares of the utilities provider's stock, valued at approximately $1,910,000.

Other large investors also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new position in shares of DTE Energy in the 1st quarter valued at $25,000. Olde Wealth Management LLC acquired a new stake in DTE Energy in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy in the first quarter valued at about $28,000. SouthState Corp purchased a new position in DTE Energy in the first quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of DTE Energy during the first quarter worth about $31,000. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Performance

Shares of DTE opened at $135.69 on Thursday. The firm has a market cap of $28.17 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.68 and a beta of 0.42. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The business's 50 day moving average is $136.98 and its two-hundred day moving average is $135.13. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $142.05.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio is 62.73%.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the transaction, the vice president directly owned 4,153 shares in the company, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen upgraded DTE Energy from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Barclays increased their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup reiterated a "buy" rating and set a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. BMO Capital Markets upped their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research note on Monday, August 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.25.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.

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