DTE Energy Company $DTE Shares Bought by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in DTE Energy by 3.6%, owning 181,905 shares valued at approximately $25.15 million.
• Wall Street analysts have generally positive outlooks for DTE Energy, with seven out of twelve rating it a Buy, and a consensus price target of $144.25.
• The company announced a quarterly dividend of $1.09 per share, leading to an annualized yield of 3.2%.

Focus Partners Wealth lifted its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,905 shares of the utilities provider's stock after acquiring an additional 6,375 shares during the quarter. Focus Partners Wealth owned 0.09% of DTE Energy worth $25,152,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DTE. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. JPMorgan Chase & Co. increased their price objective on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Barclays raised their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley set a $140.00 price objective on shares of DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. Finally, Citigroup reiterated a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.25.

DTE Energy Stock Up 1.0%

DTE stock opened at $136.95 on Friday. The stock has a market capitalization of $28.43 billion, a P/E ratio of 19.71, a PEG ratio of 2.69 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05. The company has a 50 day moving average price of $137.11 and a two-hundred day moving average price of $135.16.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. As a group, sell-side analysts expect that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

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

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction that occurred on 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 directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company's stock.

DTE Energy 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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