Beacon Pointe Advisors LLC acquired a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,315 shares of the utilities provider's stock, valued at approximately $4,314,000.
Other large investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new position in shares of DTE Energy in the fourth quarter valued at $25,000. Torren Management LLC acquired a new stake in shares of DTE Energy during the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in shares of DTE Energy during the 4th quarter worth about $29,000. Key Financial Inc bought a new stake in shares of DTE Energy during the 1st quarter worth about $29,000. Finally, First Bancorp Inc ME bought a new stake in shares of DTE Energy during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 76.06% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Jefferies Financial Group set a $172.00 target price on DTE Energy in a research report on Thursday, July 9th. TD Cowen initiated coverage on DTE Energy in a report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price target for the company. BMO Capital Markets reduced their price target on DTE Energy from $150.00 to $143.00 and set a "market perform" rating for the company in a research note on Friday. Mizuho decreased their price objective on DTE Energy from $164.00 to $152.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, Truist Financial lowered their price objective on DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. One investment 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. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $157.00.
Check Out Our Latest Report on DTE Energy
DTE Energy Price Performance
Shares of NYSE:DTE opened at $135.75 on Friday. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The company has a market cap of $28.25 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.95 and a beta of 0.38. The firm has a 50 day simple moving average of $144.97 and a 200 day simple moving average of $145.30.
DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the prior year, the firm posted $1.36 earnings per share. Research analysts predict that DTE Energy Company will post 7.71 earnings per share 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 given 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 dividend payout ratio (DPR) is 73.73%.
DTE Energy 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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