534,462 Shares in DTE Energy Company $DTE Bought by Energy Income Partners LLC

Key Points

• Energy Income Partners bought 534,462 shares of DTE Energy worth approximately $81.4 million, while institutional investors collectively own 76.06% of the company.
• DTE Energy shares opened at $140.42, below the analyst consensus price target of $158.62. Analysts maintain a “Moderate Buy” consensus, with recent targets ranging from $154 to $164.
• DTE 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 3.3% annualized yield.

Energy Income Partners LLC bought a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 534,462 shares of the utilities provider's stock, valued at approximately $81,436,000. Energy Income Partners LLC owned about 0.26% of DTE Energy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DTE. Vanguard Group Inc. boosted its position in DTE Energy by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider's stock worth $3,392,888,000 after purchasing an additional 766,499 shares during the period. BlackRock Inc. acquired a new position in DTE Energy in the 2nd quarter valued at $3,915,284,000. Capital Research Global Investors raised its holdings in DTE Energy by 3.1% in the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider's stock worth $1,605,539,000 after acquiring an additional 379,443 shares during the period. State Street Corp raised its holdings in DTE Energy by 2.5% in the 4th quarter. State Street Corp now owns 11,078,346 shares of the utilities provider's stock worth $1,441,776,000 after acquiring an additional 272,068 shares during the period. Finally, Geode Capital Management LLC lifted its position in DTE Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider's stock worth $718,668,000 after acquiring an additional 117,322 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Down 0.5%

Shares of DTE opened at $140.42 on Wednesday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The company has a 50-day simple moving average of $146.68 and a 200-day simple moving average of $145.26. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The firm has a market capitalization of $29.22 billion, a P/E ratio of 22.22, a P/E/G ratio of 3.08 and a beta of 0.38.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the business earned $1.36 earnings per share. On average, equities research analysts expect that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's dividend payout ratio (DPR) is presently 73.73%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays lowered their price target on DTE Energy from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research report on Monday, May 4th. Truist Financial decreased their target price on DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Mizuho lowered their target price on DTE Energy from $165.00 to $164.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. Weiss Ratings raised DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Finally, Bank of America reiterated a "buy" rating on shares of DTE Energy in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, DTE Energy presently has an average rating of "Moderate Buy" and an average target price of $158.62.

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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