Cetera Investment Advisers Raises Position in DTE Energy Company (NYSE:DTE)

Key Points

• Cetera Investment Advisers increased its stake in DTE Energy Company by 51.4%, acquiring an additional 15,443 shares, bringing its total holdings to 45,481 shares worth approximately $6.29 million.
• Multiple hedge funds have also recently adjusted their stakes in DTE Energy, with institutional investors now owning 76.06% of the company's stock.
• DTE Energy announced a quarterly dividend of $1.09 per share, resulting in an annualized dividend of $4.36 and a dividend yield of 3.1%.

Cetera Investment Advisers boosted its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 51.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,481 shares of the utilities provider's stock after buying an additional 15,443 shares during the quarter. Cetera Investment Advisers' holdings in DTE Energy were worth $6,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in shares of DTE Energy in the first quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new position in DTE Energy during the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy during the 1st quarter valued at about $28,000. Mattson Financial Services LLC purchased a new position in DTE Energy during the fourth quarter valued at approximately $38,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in DTE Energy during the first quarter valued at about $41,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DTE shares. BMO Capital Markets increased their target price on shares of DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research report on Monday, April 21st. Barclays upped their target price on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company raised their price target on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Evercore ISI upped their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.53.

DTE Energy Stock Performance

DTE Energy stock traded up $2.40 during midday trading on Monday, hitting $140.91. 1,401,441 shares of the company were exchanged, compared to its average volume of 1,462,588. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $141.12. The firm has a market capitalization of $29.25 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.75 and a beta of 0.42. The business has a fifty day simple moving average of $134.44 and a two-hundred day simple moving average of $132.45. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. On average, sell-side analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio is presently 62.73%.

DTE Energy 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.