DTE Energy Company $DTE Stock Position Raised by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP increased its stake in DTE Energy Company by 288.7%, owning 37,184 shares valued at approximately $5.14 million after purchasing an additional 27,617 shares.
• DTE Energy's recent quarterly earnings reported $1.36 EPS, missing estimates, while the company's revenue for the quarter was $2.91 billion, exceeding forecasts.
• Analysts have mixed opinions on DTE Energy, with eight giving a Buy rating, while others have recently downgraded the stock, leading to a consensus rating of "Moderate Buy" and an average price target of $143.38.

Dark Forest Capital Management LP raised its stake in DTE Energy Company (NYSE:DTE - Free Report) by 288.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,184 shares of the utilities provider's stock after purchasing an additional 27,617 shares during the quarter. Dark Forest Capital Management LP's holdings in DTE Energy were worth $5,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of DTE Energy by 5.1% during the 1st quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after acquiring an additional 107 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of DTE Energy by 17.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock valued at $293,000 after acquiring an additional 318 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of DTE Energy by 3.5% during the 1st quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock valued at $1,065,000 after acquiring an additional 264 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of DTE Energy by 8.3% during the 1st quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock valued at $1,184,000 after acquiring an additional 658 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of DTE Energy during the 1st quarter valued at $282,000. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Up 0.0%

Shares of DTE traded up $0.03 during midday trading on Friday, hitting $136.44. The company had a trading volume of 975,961 shares, compared to its average volume of 988,229. The company's 50 day moving average price is $136.78 and its 200 day moving average price is $135.04. The stock has a market cap of $28.32 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 2.71 and a beta of 0.42. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $142.05. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last released 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). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. On average, equities research analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. DTE Energy's payout ratio is presently 62.73%.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the sale, the vice president owned 4,153 shares of the company's stock, valued at approximately $583,621.09. The trade was a 27.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DTE shares. Citigroup restated a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays lifted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Morgan Stanley set a $140.00 price target on shares of DTE Energy and gave the stock an "overweight" rating in a research note on Thursday, August 21st. BMO Capital Markets lifted their price target on shares of DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research note on Monday, August 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $143.38.

About DTE Energy

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.