Apella Capital LLC bought a new position in shares of DTE Energy (NYSE:DTE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,403 shares of the utilities provider's stock, valued at approximately $314,000.
Other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC purchased a new position in shares of DTE Energy during the fourth quarter worth approximately $38,000. Kestra Investment Management LLC purchased a new position in shares of DTE Energy during the fourth quarter worth approximately $57,000. Colonial Trust Co SC increased its position in shares of DTE Energy by 1,266.7% during the fourth quarter. Colonial Trust Co SC now owns 656 shares of the utilities provider's stock worth $79,000 after acquiring an additional 608 shares during the period. Flagship Wealth Advisors LLC purchased a new position in shares of DTE Energy during the fourth quarter worth approximately $87,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of DTE Energy during the fourth quarter worth approximately $88,000. 76.06% of the stock is owned by hedge funds and other institutional investors.
DTE Energy Price Performance
NYSE DTE opened at $132.54 on Friday. The firm's fifty day simple moving average is $134.65 and its two-hundred day simple moving average is $128.73. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a 12-month low of $108.40 and a 12-month high of $140.39. The firm has a market capitalization of $27.50 billion, a P/E ratio of 19.58, a P/E/G ratio of 2.41 and a beta of 0.45.
DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the company earned $1.67 earnings per share. Analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.
DTE Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy's dividend payout ratio is currently 58.92%.
Analysts Set New Price Targets
DTE has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Guggenheim lifted their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a report on Friday, March 21st. Citigroup reissued a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Wells Fargo & Company lifted their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Evercore ISI lifted their price objective 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $140.93.
Check Out Our Latest Report on DTE Energy
About DTE Energy
(
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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