DTE Energy Company (NYSE:DTE) Shares Acquired by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board has significantly increased its stake in DTE Energy by 309.9%, now holding 30,749 shares worth $4.25 million.
• Analysts have mixed ratings for DTE Energy, with target prices raised by several firms, including BMO Capital Markets and Wells Fargo, while one report downgraded it to a "sell" rating.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, with an annualized yield of 3.1%, reflecting a payout ratio of 62.73%.

Ontario Teachers Pension Plan Board lifted its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 309.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,749 shares of the utilities provider's stock after purchasing an additional 23,248 shares during the period. Ontario Teachers Pension Plan Board's holdings in DTE Energy were worth $4,252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Graypoint LLC raised its position in shares of DTE Energy by 3.8% in the first quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock valued at $279,000 after buying an additional 74 shares during the last quarter. UMB Bank n.a. grew its stake in DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after acquiring an additional 78 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in DTE Energy by 2.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after acquiring an additional 78 shares during the last quarter. Stephens Inc. AR lifted its stake in DTE Energy by 1.8% in the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock worth $630,000 after purchasing an additional 81 shares in the last quarter. Finally, First American Bank boosted its holdings in shares of DTE Energy by 0.7% during the 1st quarter. First American Bank now owns 12,304 shares of the utilities provider's stock worth $1,701,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. BMO Capital Markets upped their target price on DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a report on Monday, April 21st. Wells Fargo & Company upped their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Morgan Stanley cut their price objective on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Evercore ISI boosted their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $141.53.

DTE Energy Trading Down 0.3%

DTE opened at $139.18 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The firm has a market cap of $28.89 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.77 and a beta of 0.42. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $141.54. The business has a fifty day simple moving average of $134.66 and a 200-day simple moving average of $132.66.

DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The firm 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, equities analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

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

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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