Arrowstreet Capital Limited Partnership Purchases Shares of 131,154 DTE Energy Company $DTE

Key Points

• Arrowstreet Capital acquired 131,154 DTE Energy shares in the first quarter, worth approximately $19.2 million, giving it a 0.06% stake. Institutional investors collectively own 76.06% of the utility company.
• DTE Energy reported quarterly earnings of $1.32 per share, exceeding the $1.14 analyst consensus, while revenue reached $6.74 billion. Analysts expect full-year earnings of approximately $7.71 per share.
• The company declared a quarterly dividend of $1.165 per share, or $4.66 annualized, representing a 3.3% yield. Analyst sentiment remains a “Moderate Buy,” with an average price target of $158.46.

Arrowstreet Capital Limited Partnership acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 131,154 shares of the utilities provider's stock, valued at approximately $19,177,000. Arrowstreet Capital Limited Partnership owned 0.06% of DTE Energy at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in DTE Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider's stock worth $3,392,888,000 after purchasing an additional 766,499 shares during the period. Capital Research Global Investors boosted its stake in DTE Energy by 3.1% during the fourth quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider's stock worth $1,605,539,000 after buying an additional 379,443 shares in the last quarter. State Street Corp raised its stake in shares of DTE Energy by 2.5% in the 4th quarter. State Street Corp now owns 11,078,346 shares of the utilities provider's stock valued at $1,441,776,000 after buying an additional 272,068 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of DTE Energy by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider's stock valued at $718,668,000 after buying an additional 117,322 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of DTE Energy by 2.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,044,198 shares of the utilities provider's stock worth $392,641,000 after acquiring an additional 65,080 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $143.72, for a total value of $143,720.00. Following the completion of the sale, the vice president directly owned 6,233 shares in the company, valued at approximately $895,806.76. This trade represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.60% of the company's stock.

DTE Energy Stock Performance

NYSE:DTE opened at $141.73 on Friday. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The firm has a 50 day moving average of $147.66 and a 200-day moving average of $144.80. The company has a current ratio of 0.80, a quick ratio of 0.69 and a debt-to-equity ratio of 2.13. The stock has a market capitalization of $29.49 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 3.13 and a beta of 0.38.

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

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, September 21st. DTE Energy's dividend payout ratio is presently 76.77%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DTE shares. Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Sunday, May 3rd. JPMorgan Chase & Co. upped their price objective on DTE Energy from $155.00 to $162.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Weiss Ratings raised DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. Barclays decreased their price target on 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, Morgan Stanley reiterated an "overweight" rating on shares of DTE Energy in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average 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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