Daiichi Life Insurance Co. Ltd. Buys New Stake in DTE Energy Company $DTE

Key Points

• Daiichi Life Insurance bought 13,449 shares of DTE Energy worth approximately $2.05 million during the second quarter. Institutional investors collectively own 76.06% of the company.
• DTE Energy reported quarterly EPS of $1.32, beating analysts’ $1.14 estimate, while revenue reached $6.74 billion. Analysts expect full-year EPS of approximately $7.71.
• The company declared a quarterly dividend of $1.165 per share, equivalent to $4.66 annually and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $158.46.

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,449 shares of the utilities provider's stock, valued at approximately $2,049,000.

Other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of DTE Energy during the 4th quarter worth approximately $25,000. Key Financial Inc acquired a new position in shares of DTE Energy in the 1st quarter valued at $29,000. Torren Management LLC acquired a new position in shares of DTE Energy in the 4th quarter valued at $26,000. Quest 10 Wealth Builders Inc. boosted its holdings in DTE Energy by 754.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider's stock worth $26,000 after buying an additional 181 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in DTE Energy during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

Shares of NYSE:DTE opened at $135.28 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The business's 50 day moving average price is $146.13 and its 200-day moving average price is $145.34. The firm has a market capitalization of $28.15 billion, a PE ratio of 21.41, a P/E/G ratio of 2.94 and a beta of 0.38. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the company earned $1.36 EPS. As a group, equities research analysts expect that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be issued 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 dividend payout ratio is presently 73.73%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen started coverage on shares of DTE Energy in a report on Tuesday, July 7th. They issued a "hold" rating and a $166.00 price objective for the company. Barclays decreased 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. Morgan Stanley dropped their target price on DTE Energy from $153.00 to $148.00 and set an "overweight" rating on the stock in a research report on Friday. BMO Capital Markets lifted their price target on DTE Energy from $148.00 to $150.00 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $158.46.

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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