486,836 Shares in DTE Energy Company (NYSE:DTE) Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired 486,836 shares of DTE Energy, worth approximately $67.3 million, bringing its total ownership to 0.23% as of the last quarter.
• DTE Energy reported a missed earnings estimate of $1.36 per share for the last quarter, while revenues exceeded expectations at $2.91 billion.
• Several analyst firms have raised their price targets for DTE Energy, with Wells Fargo increasing it from $145.00 to $154.00, maintaining an "overweight" rating.

Nuveen LLC bought a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 486,836 shares of the utilities provider's stock, valued at approximately $67,315,000. Nuveen LLC owned 0.23% of DTE Energy at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Capital World Investors lifted its position in DTE Energy by 123.2% during the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock worth $823,905,000 after buying an additional 3,766,221 shares during the period. Janus Henderson Group PLC lifted its position in DTE Energy by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock worth $329,988,000 after buying an additional 12,554 shares during the period. Northern Trust Corp lifted its position in DTE Energy by 4.7% during the fourth quarter. Northern Trust Corp now owns 1,827,168 shares of the utilities provider's stock worth $220,631,000 after buying an additional 81,935 shares during the period. JPMorgan Chase & Co. lifted its position in DTE Energy by 57.4% during the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after buying an additional 512,567 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in DTE Energy by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock worth $181,978,000 after buying an additional 9,443 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of NYSE DTE opened at $141.43 on Thursday. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $141.54. The business has a 50 day moving average price of $135.14 and a two-hundred day moving average price of $133.32. 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 firm has a market cap of $29.36 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42.

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

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is 62.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company increased their target price on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Citigroup restated a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Barclays upped their price target on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Morgan Stanley dropped their price target on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Evercore ISI upped their price target on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $141.53.

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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