Deutsche Bank AG Purchases New Position in DTE Energy Company $DTE

Key Points

• Deutsche Bank acquired 656,277 shares of DTE Energy during the second quarter, valued at approximately $100 million and representing about 0.32% of the company. Institutional investors and hedge funds collectively own 76.06% of DTE’s stock.
• Analysts maintain a generally positive outlook, with DTE receiving a consensus rating of “Moderate Buy” and an average price target of $158.62. Recent targets range from $154 to $172.
• DTE shares opened at $138.16, while the company reported quarterly EPS of $1.32, exceeding the $1.14 consensus estimate. DTE also declared a quarterly dividend of $1.165 per share, equivalent to a 3.4% annualized yield.

Deutsche Bank AG acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 656,277 shares of the utilities provider's stock, valued at approximately $99,997,000. Deutsche Bank AG owned about 0.32% of DTE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in DTE. Laurel Wealth Advisors LLC acquired a new stake in shares of DTE Energy in the 4th quarter valued at $25,000. Quest 10 Wealth Builders Inc. lifted its position in shares of DTE Energy by 754.2% in 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 during the last quarter. Torren Management LLC bought a new stake in shares of DTE Energy during the 4th quarter worth about $26,000. Elyxium Wealth LLC bought a new stake in shares of DTE Energy during the 4th quarter worth about $29,000. Finally, Key Financial Inc acquired a new position in shares of DTE Energy during the 1st quarter valued at about $29,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on DTE. Jefferies Financial Group set a $172.00 target price on DTE Energy in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $155.00 to $162.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. 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 note on Wednesday, July 29th. TD Cowen initiated coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price objective for the company. Finally, Barclays lowered their target price on shares of DTE Energy from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research note on Monday, May 4th. One equities research 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 company's stock. Based on data from MarketBeat, DTE Energy presently has an average rating of "Moderate Buy" and a consensus price target of $158.62.

DTE Energy Trading Down 0.7%

Shares of DTE Energy stock opened at $138.16 on Friday. The company's fifty day simple moving average is $146.38 and its 200-day simple moving average is $145.33. The company has a market cap of $28.75 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 3.04 and a beta of 0.38. 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 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, sell-side analysts expect that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

The business 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 $1.165 dividend. 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%.

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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