Allianz Asset Management GmbH Increases Stake in DTE Energy Company (NYSE:DTE)

Key Points

• Allianz Asset Management GmbH increased its stake in DTE Energy Company by 222.1% during the 1st quarter, now owning 58,995 shares valued at approximately $8.16 million.
• DTE Energy reported earnings of $2.10 per share for the last quarter, surpassing analysts' expectations of $1.98, with revenue reaching $3.37 billion.
• The company announced a quarterly dividend of $1.09 per share, indicating a dividend yield of 3.13% and a payout ratio of 58.92%.

Allianz Asset Management GmbH increased its position in DTE Energy Company (NYSE:DTE - Free Report) by 222.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 58,995 shares of the utilities provider's stock after acquiring an additional 40,679 shares during the quarter. Allianz Asset Management GmbH's holdings in DTE Energy were worth $8,157,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DTE. Bessemer Group Inc. grew its holdings in DTE Energy by 5.1% during the 1st quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after buying an additional 107 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in DTE Energy by 39.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock valued at $693,000 after buying an additional 1,618 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in DTE Energy by 17.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock valued at $293,000 after buying an additional 318 shares in the last quarter. GAMMA Investing LLC grew its holdings in DTE Energy by 8.3% during the 1st quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock valued at $1,184,000 after buying an additional 658 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in DTE Energy by 3.5% during the 1st quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock valued at $1,065,000 after buying an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

NYSE:DTE opened at $139.51 on Friday. The business has a 50 day moving average of $134.37 and a 200 day moving average of $131.76. The company has a market capitalization of $28.95 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.77 and a beta of 0.44. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $140.39. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results 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 company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the company posted $1.67 EPS. On average, sell-side analysts predict that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is 58.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DTE shares. Citigroup reaffirmed a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Evercore ISI lifted their target price on DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their target price on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Morgan Stanley reduced their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, BMO Capital Markets boosted their price objective on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $141.53.

DTE Energy Company 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.

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