AE Wealth Management LLC boosted its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 15.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 118,274 shares of the utilities provider's stock after purchasing an additional 16,053 shares during the quarter. AE Wealth Management LLC owned about 0.06% of DTE Energy worth $16,354,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cloud Capital Management LLC bought a new position in DTE Energy in the 1st quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new position in shares of DTE Energy during the first quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DTE Energy during the first quarter valued at $28,000. Mattson Financial Services LLC bought a new stake in DTE Energy in the 4th quarter worth about $38,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in DTE Energy in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 76.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on DTE shares. Evercore ISI raised their price target on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. BMO Capital Markets raised their target price on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Citigroup reaffirmed a "buy" rating and issued a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Finally, Morgan Stanley dropped their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $141.53.
Get Our Latest Stock Analysis on DTE Energy
DTE Energy Price Performance
DTE Energy stock traded up $0.97 during mid-day trading on Thursday, hitting $139.14. The stock had a trading volume of 1,082,801 shares, compared to its average volume of 1,413,803. DTE Energy Company has a one year low of $115.59 and a one year high of $140.39. The company has a current ratio of 0.87, a quick ratio of 0.59 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $28.87 billion, a P/E ratio of 18.80, a P/E/G ratio of 2.74 and a beta of 0.44. The firm's 50 day moving average is $134.35 and its 200 day moving average is $131.56.
DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. On average, sell-side analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.
DTE Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.13%. DTE Energy's dividend payout ratio is 58.92%.
DTE Energy Company Profile
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Free Report)
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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