DTE Energy Company (NYSE:DTE) Holdings Raised by Bank of Nova Scotia

Bank of Nova Scotia boosted its stake in DTE Energy Company (NYSE:DTE - Free Report) by 26.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,631 shares of the utilities provider's stock after buying an additional 19,995 shares during the period. Bank of Nova Scotia's holdings in DTE Energy were worth $13,085,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Cloud Capital Management LLC acquired a new stake in shares of DTE Energy in the 1st quarter worth approximately $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy during the first quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in DTE Energy in the first quarter worth approximately $28,000. N.E.W. Advisory Services LLC acquired a new stake in DTE Energy in the first quarter worth approximately $31,000. Finally, Mattson Financial Services LLC bought a new position in DTE Energy during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 76.06% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays boosted their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup reiterated a "buy" rating and issued a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. JPMorgan Chase & Co. upped their price target 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. Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company boosted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $141.53.

DTE Energy Stock Performance

Shares of DTE stock opened at $138.48 on Monday. The company has a market capitalization of $28.75 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 2.75 and a beta of 0.42. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $140.39. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The stock's fifty day simple moving average is $134.44 and its 200-day simple moving average is $132.45.

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

DTE Energy Dividend Announcement

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

About DTE Energy

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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