Carrera Capital Advisors Makes New Investment in DTE Energy Company (NYSE:DTE)

Key Points

• Carrera Capital Advisors acquired 2,180 shares of DTE Energy, valued at approximately $304,000, during the first quarter of the year.
• DTE Energy reported a quarterly earnings per share (EPS) of $2.10, exceeding analysts' expectations of $1.98, with revenue hitting $3.37 billion.
• The company declared a quarterly dividend of $1.09, resulting in an annualized yield of 3.13%, with a payout ratio of 58.92%.

Carrera Capital Advisors purchased a new stake in DTE Energy Company (NYSE:DTE - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,180 shares of the utilities provider's stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cloud Capital Management LLC purchased a new stake in DTE Energy in the 1st quarter worth $25,000. Olde Wealth Management LLC purchased a new stake in shares of DTE Energy in the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DTE Energy in the first quarter valued at about $28,000. Mattson Financial Services LLC purchased a new position in shares of DTE Energy during the 4th quarter worth $38,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of DTE Energy during the 1st quarter worth $41,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating and set a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Wells Fargo & Company raised their target price on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Finally, Barclays raised their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $141.53.

DTE Energy Stock Performance

Shares of NYSE:DTE traded up $2.12 on Thursday, reaching $137.50. The company's stock had a trading volume of 703,570 shares, compared to its average volume of 1,414,011. The stock's 50-day moving average is $134.32 and its two-hundred day moving average is $132.03. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $140.39. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The stock has a market capitalization of $28.53 billion, a P/E ratio of 19.78, a PEG ratio of 2.72 and a beta of 0.44.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.71%. As a group, sell-side analysts forecast that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.17%. DTE Energy's payout ratio is currently 58.92%.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.