Caisse de depot et placement du Quebec Takes Position in DTE Energy Company $DTE

Key Points

• Caisse de dépôt et placement du Québec initiated a position in DTE Energy during the second quarter, purchasing 8,019 shares valued at approximately $1.22 million. Institutional investors collectively own 76.06% of the company.
• Analysts maintain a generally positive outlook, with DTE carrying a “Moderate Buy” consensus rating and an average price target of $157, compared with its recent price of $135.75.
• DTE Energy reported quarterly EPS of $1.32, beating estimates by $0.18, and announced a quarterly dividend of $1.165, equivalent to a 3.4% annualized yield.

Caisse de depot et placement du Quebec purchased a new position in DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,019 shares of the utilities provider's stock, valued at approximately $1,222,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Convergence Investment Partners LLC purchased a new stake in shares of DTE Energy during the first quarter worth about $3,142,000. Louisiana State Employees Retirement System bought a new stake in shares of DTE Energy in the first quarter worth about $1,550,000. OMERS ADMINISTRATION Corp bought a new stake in shares of DTE Energy in the second quarter worth about $2,236,000. Capital Innovations LLC purchased a new stake in shares of DTE Energy in the fourth quarter worth about $1,014,000. Finally, Callan Family Office LLC purchased a new stake in shares of DTE Energy in the second quarter worth about $1,438,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays cut their price target on DTE Energy from $156.00 to $154.00 and set an "equal weight" rating for the company in a report on Monday, May 4th. 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. TD Cowen initiated coverage on DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 target price for the company. Weiss Ratings raised shares of DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DTE Energy from $155.00 to $162.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $157.00.

DTE Energy Trading Down 0.1%

Shares of DTE stock opened at $135.75 on Monday. DTE Energy Company has a 1 year low of $126.23 and a 1 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 stock's 50 day simple moving average is $144.97 and its two-hundred day simple moving average is $145.37. The company has a market cap of $28.25 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38.

DTE Energy (NYSE:DTE - Get Free Report) last posted 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 business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same period last year, the company earned $1.36 EPS. Research analysts predict that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced 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 dividend payout ratio is currently 73.73%.

About DTE Energy

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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