Commerzbank Aktiengesellschaft FI Makes New Investment in DTE Energy Company $DTE

Key Points

• Commerzbank Aktiengesellschaft FI acquired 8,867 DTE Energy shares worth approximately $1.35 million in the second quarter. Institutional investors collectively own 76.06% of the utility company, with Mitsubishi UFJ also initiating a stake valued at nearly $77 million.
• DTE Energy reported quarterly EPS of $1.32, exceeding analysts’ $1.14 consensus estimate, while revenue reached $6.74 billion. Analysts expect full-year EPS of approximately $7.71.
• DTE declared a quarterly dividend of $1.165 per share, or $4.66 annualized, representing a 3.3% yield. Wall Street maintains a “Moderate Buy” consensus with an average price target of $158.62, compared with a recent share price of $140.42.

Commerzbank Aktiengesellschaft FI acquired a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,867 shares of the utilities provider's stock, valued at approximately $1,351,000.

A number of other hedge funds have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in DTE Energy during the second quarter worth approximately $76,948,000. OneDigital Investment Advisors LLC purchased a new position in DTE Energy in the second quarter valued at approximately $585,000. Trivium Point Advisory LLC purchased a new position in DTE Energy in the second quarter valued at approximately $785,000. N.E.W. Advisory Services LLC acquired a new stake in DTE Energy during the second quarter worth approximately $35,000. Finally, Global Retirement Partners LLC acquired a new stake in DTE Energy during the second quarter worth approximately $420,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Price Performance

Shares of NYSE DTE opened at $140.42 on Wednesday. The stock has a market cap of $29.22 billion, a P/E ratio of 22.22, a P/E/G ratio of 3.08 and a beta of 0.38. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The stock has a 50 day moving average of $146.68 and a two-hundred day moving average of $145.26. 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 announced its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period last year, the firm posted $1.36 earnings per share. On average, research analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

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 dividend of $1.165 per share. This represents a $4.66 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's dividend payout ratio (DPR) is presently 73.73%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DTE. Mizuho reduced their price objective on shares of DTE Energy from $165.00 to $164.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $155.00 to $162.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Barclays reduced their price target 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. Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price objective on shares of DTE Energy in a research note on Monday, June 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of DTE Energy in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.62.

DTE Energy Company 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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