8,738 Shares in DTE Energy Company $DTE Acquired by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management acquired 8,738 shares of DTE Energy worth approximately $1.33 million during the second quarter. Institutional investors and hedge funds collectively own 76.06% of the company.
• DTE Energy reported quarterly earnings of $1.32 per share, beating estimates of $1.14, on revenue of $6.74 billion. Analysts expect full-year earnings of approximately $7.71 per share.
• The company declared a quarterly dividend of $1.165, equivalent to $4.66 annually and a 3.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $157, compared with the stock’s reported price of $135.75.

Kingsview Wealth Management LLC purchased a new position in DTE Energy Company (NYSE:DTE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,738 shares of the utilities provider's stock, valued at approximately $1,331,000.

Several other hedge funds have also bought and sold shares of DTE. Laurel Wealth Advisors LLC bought a new stake in DTE Energy during the 4th quarter valued at $25,000. Torren Management LLC bought a new stake in DTE Energy during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new stake in shares of DTE Energy in the fourth quarter worth approximately $29,000. Key Financial Inc purchased a new stake in shares of DTE Energy in the first quarter worth approximately $29,000. Finally, First Bancorp Inc ME bought a new position in shares of DTE Energy in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Performance

Shares of DTE stock opened at $135.75 on Friday. 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 firm has a market cap of $28.25 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.95 and a beta of 0.38. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The firm's 50-day simple moving average is $144.97 and its two-hundred day simple moving average is $145.30.

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, beating analysts' consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the firm earned $1.36 EPS. As a group, equities analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's dividend payout ratio (DPR) is currently 73.73%.

Analysts Set New Price Targets

DTE has been the subject of several recent research reports. Truist Financial decreased their price target on DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $155.00 to $162.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target on shares of DTE Energy in a report on Monday, June 15th. Finally, Barclays reduced their price objective 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $157.00.

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.

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Company (NYSE:DTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source