Davis Investment Partners LLC Acquires New Position in DTE Energy (NYSE:DTE)

Davis Investment Partners LLC bought a new stake in shares of DTE Energy (NYSE:DTE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,774 shares of the utilities provider's stock, valued at approximately $636,000.

Other institutional investors also recently bought and sold shares of the company. Mattson Financial Services LLC bought a new stake in shares of DTE Energy in the 4th quarter worth $38,000. Bank of New Hampshire bought a new stake in shares of DTE Energy in the 1st quarter worth $55,000. Kestra Investment Management LLC bought a new stake in shares of DTE Energy in the 4th quarter worth $57,000. Colonial Trust Co SC increased its holdings in shares of DTE Energy by 1,266.7% in the 4th quarter. Colonial Trust Co SC now owns 656 shares of the utilities provider's stock worth $79,000 after purchasing an additional 608 shares in the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of DTE Energy in the 4th quarter worth $87,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI lifted their price objective on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Morgan Stanley cut their price objective on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. BMO Capital Markets lifted their price objective on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. Finally, Guggenheim lifted their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.93.

DTE Energy Price Performance

Shares of DTE Energy stock traded up $0.93 during trading hours on Thursday, hitting $135.90. The company's stock had a trading volume of 1,028,257 shares, compared to its average volume of 1,259,158. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The company has a market cap of $28.20 billion, a PE ratio of 20.07, a PEG ratio of 2.41 and a beta of 0.45. DTE Energy has a 12-month low of $108.40 and a 12-month high of $140.39. The business has a 50 day moving average price of $134.45 and a two-hundred day moving average price of $129.04.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the business earned $1.67 earnings per share. Analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 annualized dividend and a yield of 3.21%. DTE Energy's payout ratio is currently 58.92%.

DTE Energy Company 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.