Canada Pension Plan Investment Board Makes New Investment in DTE Energy Company $DTE

Key Points

• Canada Pension Plan Investment Board acquired 244,514 DTE Energy shares worth approximately $37.3 million in the second quarter, representing a 0.12% stake. Institutional investors collectively own 76.06% of the utility company.
• Analysts maintain a generally positive outlook, with DTE carrying a consensus “Moderate Buy” rating and an average price target of $157.54, despite individual ratings ranging from Strong Buy to Sell.
• DTE reported quarterly earnings of $1.32 per share, exceeding estimates of $1.14, and declared a quarterly dividend of $1.165, or $4.66 annually, yielding about 3.4%.

Canada Pension Plan Investment Board acquired a new stake in DTE Energy Company (NYSE:DTE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 244,514 shares of the utilities provider's stock, valued at approximately $37,257,000. Canada Pension Plan Investment Board owned 0.12% of DTE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Laurel Wealth Advisors LLC purchased a new stake in DTE Energy during the 4th quarter valued at approximately $25,000. Torren Management LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at approximately $29,000. Key Financial Inc purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $29,000. Finally, SHP Wealth Management acquired a new position in shares of DTE Energy in the fourth quarter valued at approximately $35,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on DTE. BMO Capital Markets upped their price target on 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 objective on shares of DTE Energy in a research report on Thursday, July 9th. Weiss Ratings raised shares of DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Barclays cut their price objective on shares of DTE Energy from $156.00 to $154.00 and set an "equal weight" rating for the company in a research report on Monday, May 4th. Finally, Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.54.

DTE Energy Stock Performance

NYSE DTE opened at $136.11 on Friday. The stock has a market capitalization of $28.32 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.99 and a beta of 0.38. The business's 50 day moving average is $145.21 and its two-hundred day moving average is $145.37. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.36 billion. During the same period last year, the firm earned $1.36 EPS. Research analysts expect that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a $1.165 dividend. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.4%. DTE Energy's dividend payout ratio is presently 73.73%.

DTE Energy 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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