B. Metzler seel. Sohn & Co. AG bought a new position in DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,231 shares of the utilities provider's stock, valued at approximately $1,559,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of DTE Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider's stock worth $3,392,888,000 after buying an additional 766,499 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of DTE Energy in the 2nd quarter valued at approximately $3,915,284,000. Capital Research Global Investors boosted its stake in shares of DTE Energy by 3.1% in the fourth quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider's stock valued at $1,605,539,000 after buying an additional 379,443 shares in the last quarter. State Street Corp boosted its stake in shares of DTE Energy by 2.5% in the fourth 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. Finally, Geode Capital Management LLC grew its holdings in DTE Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider's stock worth $718,668,000 after acquiring an additional 117,322 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.
DTE Energy Price Performance
Shares of NYSE DTE opened at $135.28 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The company's 50-day moving average price is $146.13 and its 200 day moving average price is $145.34. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The stock has a market cap of $28.15 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.94 and a beta of 0.38.
DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $3.36 billion. During the same quarter in the previous year, the business posted $1.36 earnings per share. As a group, research analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.
DTE Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy's dividend payout ratio is 73.73%.
Analyst Ratings Changes
Several research firms have issued reports on DTE. Truist Financial cut their price objective on DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. BMO Capital Markets upped their price target on shares of DTE Energy from $148.00 to $150.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 29th. Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a report on Thursday, July 9th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price objective on shares of DTE Energy in a report on Monday, June 15th. Finally, TD Cowen initiated coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.46.
View Our Latest Analysis on DTE Energy
DTE Energy Company Profile
(
Free Report)
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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