Corient Private Wealth LP Takes $9.71 Million Position in DTE Energy Company $DTE

Key Points

• Corient Private Wealth LP acquired 476,979 DTE Energy shares worth approximately $9.71 million during the second quarter, giving it a 0.23% stake. Institutional investors collectively own 76.06% of the company.
• Analysts maintain a generally positive outlook, with DTE carrying a consensus “Moderate Buy” rating and an average price target of $157.00, despite some recent target-price reductions and one sell rating.
• DTE reported quarterly EPS of $1.32, beating estimates by $0.18, and declared a quarterly dividend of $1.165 per share, equivalent to a $4.66 annualized payout and a 3.4% yield.

Corient Private Wealth LP acquired a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 476,979 shares of the utilities provider's stock, valued at approximately $9,709,000. Corient Private Wealth LP owned 0.23% of DTE Energy at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of DTE Energy during the second quarter valued at about $3,915,284,000. Capital Research Global Investors raised its stake in DTE Energy by 3.1% in the fourth quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider's stock worth $1,605,539,000 after buying an additional 379,443 shares in the last quarter. State Street Corp lifted its holdings in DTE Energy by 2.5% in the fourth quarter. State Street Corp now owns 11,078,346 shares of the utilities provider's stock worth $1,441,776,000 after buying an additional 272,068 shares during the period. Geode Capital Management LLC lifted its holdings in DTE Energy by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider's stock worth $718,668,000 after buying an additional 117,322 shares during the period. Finally, Jupiter Topco LLC bought a new stake in DTE Energy during the 2nd quarter valued at approximately $477,264,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DTE. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. Morgan Stanley lowered their target price on DTE Energy from $153.00 to $148.00 and set an "overweight" rating for the company in a research note on Friday, August 21st. TD Cowen began coverage on DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price target on the stock. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Truist Financial decreased their price objective on DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. One investment 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.00.

DTE Energy Price Performance

Shares of NYSE DTE opened at $135.75 on Monday. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The firm has a market cap of $28.25 billion, a P/E ratio of 21.48, a PEG ratio of 2.95 and a beta of 0.38. The company has a 50 day moving average of $144.97 and a 200 day moving average of $145.37. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, research analysts expect that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

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