DTE Energy Company $DTE Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia boosted its position in DTE Energy Company (NYSE:DTE - Free Report) by 115.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 69,929 shares of the utilities provider's stock after acquiring an additional 37,443 shares during the period. Bank of Nova Scotia's holdings in DTE Energy were worth $10,225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. increased its position in shares of DTE Energy by 8.9% in the first quarter. Sei Investments Co. now owns 134,303 shares of the utilities provider's stock worth $19,637,000 after acquiring an additional 10,949 shares in the last quarter. State of Wyoming lifted its stake in DTE Energy by 310.6% during the first quarter. State of Wyoming now owns 1,852 shares of the utilities provider's stock worth $271,000 after purchasing an additional 1,401 shares during the last quarter. Cetera Investment Advisers boosted its stake in DTE Energy by 15.7% in the first quarter. Cetera Investment Advisers now owns 53,218 shares of the utilities provider's stock valued at $7,781,000 after acquiring an additional 7,230 shares during the period. NewEdge Wealth LLC grew its position in shares of DTE Energy by 66.3% during the first quarter. NewEdge Wealth LLC now owns 4,098 shares of the utilities provider's stock worth $599,000 after acquiring an additional 1,634 shares during the last quarter. Finally, CI Investments Inc. increased its position in DTE Energy by 5.5% in the 1st quarter. CI Investments Inc. now owns 9,435 shares of the utilities provider's stock valued at $1,380,000 after acquiring an additional 491 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $143.72, for a total transaction of $143,720.00. Following the sale, the vice president directly owned 6,233 shares of the company's stock, valued at $895,806.76. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company's stock.

DTE Energy Stock Up 0.0%

NYSE DTE opened at $149.52 on Monday. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a current ratio of 0.95, a quick ratio of 0.69 and a debt-to-equity ratio of 2.04. The stock's 50 day moving average is $147.53 and its two-hundred day moving average is $144.37. The company has a market capitalization of $31.11 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 3.26 and a beta of 0.38.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Thursday, April 30th. The utilities provider reported $1.95 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.03). The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.37 billion. DTE Energy had a return on equity of 12.37% and a net margin of 7.65%.During the same period in the previous year, the company posted $2.10 EPS. DTE Energy has set its FY 2026 guidance at 7.590-7.730 EPS. Equities analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.1%. DTE Energy's dividend payout ratio is 76.77%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho set a $165.00 price target on DTE Energy in a research report on Friday, May 1st. TD Cowen started coverage on DTE Energy in a report on Tuesday, July 7th. They issued a "hold" rating and a $166.00 target price for the company. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target on shares of DTE Energy in a report on Monday, June 15th. Weiss Ratings downgraded DTE Energy from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Finally, BMO Capital Markets cut their price target on shares of DTE Energy from $152.00 to $148.00 and set a "market perform" rating on the stock in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of "Moderate Buy" and a consensus target price of $158.38.

About DTE Energy

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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