DTE Energy Company $DTE is HITE Hedge Asset Management LLC's Largest Position

Key Points

• HITE Hedge Asset Management LLC increased its stake in DTE Energy by 2.3%, making it the hedge fund's largest holding at a total value of approximately $136.48 million.
• Several other institutional investors also boosted their positions, with Mariner LLC increasing its holdings by 16.7%, and Zacks Investment Management increasing by 18.8% in the last quarter.
• Analysts have a consensus rating of "Moderate Buy" for DTE Energy, with an average target price of $142.29, reflecting positive market sentiment amidst various price adjustments from different financial institutions.

HITE Hedge Asset Management LLC boosted its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 987,056 shares of the utilities provider's stock after purchasing an additional 22,137 shares during the period. DTE Energy comprises 8.5% of HITE Hedge Asset Management LLC's holdings, making the stock its biggest holding. HITE Hedge Asset Management LLC owned approximately 0.48% of DTE Energy worth $136,480,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Graypoint LLC increased its position in shares of DTE Energy by 3.8% during the first quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock worth $279,000 after acquiring an additional 74 shares during the period. UMB Bank n.a. boosted its stake in shares of DTE Energy by 0.9% during the first quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after purchasing an additional 78 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of DTE Energy by 2.0% during the first quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after purchasing an additional 78 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of DTE Energy by 1.8% during the first quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock valued at $630,000 after purchasing an additional 81 shares in the last quarter. Finally, First American Bank boosted its stake in shares of DTE Energy by 0.7% during the first quarter. First American Bank now owns 12,304 shares of the utilities provider's stock valued at $1,701,000 after purchasing an additional 85 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction 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 transaction, the vice president owned 4,153 shares of the company's stock, valued at approximately $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $0.3280 during midday trading on Friday, reaching $139.8720. The company had a trading volume of 1,257,248 shares, compared to its average volume of 1,391,804. The business's 50-day simple moving average is $135.75 and its 200 day simple moving average is $134.13. The stock has a market cap of $29.04 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.79 and a beta of 0.42. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last posted 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 company 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%. On average, analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. DTE Energy's payout ratio is presently 62.73%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Barclays increased 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 note on Tuesday, July 15th. Citigroup reiterated a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, DTE Energy has an average rating of "Moderate Buy" and an average price target of $142.29.

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.