DTE Energy Company $DTE Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs increased its stake in DTE Energy Company by 65.3%, owning approximately 1.6 million shares valued at $223 million as of the latest SEC filing.
• Several institutional investors have recently acquired positions in DTE Energy, with 76.06% of the stock now held by these entities.
• DTE Energy announced a quarterly dividend of $1.09 per share, representing a yield of 3.2% and a payout ratio of 62.73%.

Goldman Sachs Group Inc. boosted its position in DTE Energy Company (NYSE:DTE - Free Report) by 65.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,612,925 shares of the utilities provider's stock after purchasing an additional 637,378 shares during the period. Goldman Sachs Group Inc. owned about 0.78% of DTE Energy worth $223,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in shares of DTE Energy during the 1st quarter worth $25,000. Olde Wealth Management LLC acquired a new position in DTE Energy during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DTE Energy in the first quarter valued at about $28,000. SouthState Corp acquired a new stake in shares of DTE Energy in the first quarter valued at approximately $29,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of DTE Energy in the first quarter valued at approximately $31,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the transaction, the vice president owned 4,153 shares of the company's stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DTE shares. Barclays lifted their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup reissued a "buy" rating and issued a $151.00 price target (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Wall Street Zen upgraded DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. BMO Capital Markets lifted their price objective on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, DTE Energy has a consensus rating of "Moderate Buy" and an average price target of $144.25.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $135.69 on Thursday. The company has a market cap of $28.17 billion, a P/E ratio of 19.52, a P/E/G ratio of 2.68 and a beta of 0.42. The business has a fifty day simple moving average of $136.98 and a 200-day simple moving average of $135.13. 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 issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities research analysts forecast 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. Investors of record on Monday, September 15th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is presently 62.73%.

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.

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