Allworth Financial LP Purchases New Holdings in DTE Energy Company $DTE

Key Points

• Allworth Financial purchased 12,324 shares of DTE Energy in the second quarter, valued at approximately $1.88 million. Institutional investors collectively own 76.06% of the utility’s stock.
• DTE Energy reported quarterly EPS of $1.32, exceeding analyst expectations of $1.14, while revenue reached $6.74 billion. Analysts expect full-year EPS of approximately $7.71.
• DTE 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 $158.46.

Allworth Financial LP purchased a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,324 shares of the utilities provider's stock, valued at approximately $1,878,000.

A number of other large investors have also modified their holdings of DTE. Laurel Wealth Advisors LLC acquired a new stake in shares of DTE Energy during the 4th quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. grew its stake in shares of DTE Energy by 754.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider's stock worth $26,000 after acquiring an additional 181 shares in the last quarter. Torren Management LLC purchased a new stake in shares of DTE Energy during the fourth quarter worth $26,000. Elyxium Wealth LLC purchased a new position in DTE Energy in the fourth quarter worth approximately $29,000. Finally, Key Financial Inc acquired a new stake in DTE Energy in the first quarter valued at $29,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Down 2.1%

Shares of NYSE DTE opened at $135.28 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The company has a market cap of $28.15 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.00 and a beta of 0.38. The stock has a fifty day moving average price of $146.13 and a 200 day moving average price of $145.26.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the business posted $1.36 EPS. Research analysts anticipate that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. DTE Energy's payout ratio is currently 73.73%.

Analyst Ratings Changes

A number of analysts have weighed in on DTE shares. BMO Capital Markets raised their price objective on shares of DTE Energy from $148.00 to $150.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. Mizuho lowered their target price on shares of DTE Energy from $165.00 to $164.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Truist Financial dropped their target price on shares of DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Barclays cut their price target on shares of DTE Energy from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their target price on DTE Energy from $155.00 to $162.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.46.

DTE Energy Company 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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