2,879 Shares in DTE Energy Company $DTE Acquired by State of Wyoming

Key Points

• The State of Wyoming has purchased 2,879 shares of DTE Energy Company, valued at approximately $398,000, as part of its first-quarter investment activities.
• DTE Energy recently declared a quarterly dividend of $1.09, which will be paid on October 15, 2023, resulting in an annual yield of 3.2%.
• Analyst ratings for DTE Energy currently reflect an average target price of $143.38, with eight analysts rating it a "Buy" and five a "Hold."

State of Wyoming acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,879 shares of the utilities provider's stock, valued at approximately $398,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cloud Capital Management LLC purchased a new position in shares of DTE Energy in the first quarter worth $25,000. Olde Wealth Management LLC purchased a new position in shares of DTE Energy in the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of DTE Energy in the first quarter worth $28,000. SouthState Corp purchased a new position in shares of DTE Energy in the first quarter worth $29,000. Finally, N.E.W. Advisory Services LLC bought a new stake in DTE Energy in the first quarter worth $31,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

Analyst Upgrades and Downgrades

DTE has been the topic of several research reports. Barclays boosted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock 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 report on Friday, May 23rd. Morgan Stanley set a $140.00 price objective on shares of DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. boosted their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Monday, August 25th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $143.38.

DTE Energy Stock Down 0.1%

NYSE:DTE traded down $0.20 during mid-day trading on Wednesday, reaching $135.45. The company's stock had a trading volume of 781,092 shares, compared to its average volume of 986,512. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05. The stock has a fifty day moving average of $136.59 and a 200-day moving average of $134.95. The firm has a market capitalization of $28.12 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.71 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.

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

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is presently 62.73%.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were 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 of the company's stock, valued at $583,621.09. This trade represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

DTE Energy Profile

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.