Penserra Capital Management LLC raised its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 1,099.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,513 shares of the utilities provider's stock after purchasing an additional 5,970 shares during the quarter. Penserra Capital Management LLC's holdings in DTE Energy were worth $900,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in DTE. Cloud Capital Management LLC purchased a new stake in shares of DTE Energy in the 1st quarter worth about $25,000. Olde Wealth Management LLC purchased a new stake in DTE Energy during the 1st quarter valued at about $27,000. Mattson Financial Services LLC purchased a new stake in DTE Energy during the 4th quarter valued at about $38,000. Bank of New Hampshire purchased a new stake in DTE Energy during the 1st quarter valued at about $55,000. Finally, Rossby Financial LCC purchased a new stake in DTE Energy during the 1st quarter valued at about $69,000. 76.06% of the stock is owned by hedge funds and other institutional investors.
DTE Energy Price Performance
Shares of DTE stock traded up $0.22 during trading hours on Friday, hitting $133.88. 1,156,385 shares of the company's stock were exchanged, compared to its average volume of 1,298,015. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. The firm has a market cap of $27.78 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.43 and a beta of 0.44. The firm has a 50 day moving average of $134.17 and a two-hundred day moving average of $130.58. DTE Energy Company has a fifty-two week low of $112.65 and a fifty-two week high of $140.39.
DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the company earned $1.67 EPS. Sell-side analysts forecast that DTE Energy Company will post 7.18 EPS for the current year.
DTE Energy Dividend Announcement
The business also recently declared 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. This represents a $4.36 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio is currently 58.92%.
Analyst Upgrades and Downgrades
Several analysts recently commented on DTE shares. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Citigroup reissued a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. 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 report on Friday, May 2nd. Barclays cut their price objective on shares of DTE Energy from $137.00 to $136.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Evercore ISI increased their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and an average target price of $141.00.
Get Our Latest Analysis on DTE
About DTE Energy
(
Free Report)
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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