Resona Asset Management Co. Ltd. Increases Stake in DTE Energy Company $DTE

Key Points

• Resona Asset Management Co. Ltd. increased its stake in DTE Energy by 6.3%, owning 66,618 shares valued at approximately $9.19 million following the acquisition of an additional 3,977 shares during the first quarter.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, with the dividend expected to be paid on October 15th to shareholders of record on September 15th, representing a 3.1% yield.
• As of now, DTE Energy has an average rating of "Moderate Buy" from analysts, with price targets ranging from $134.00 to $147.00.

Resona Asset Management Co. Ltd. grew its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,618 shares of the utilities provider's stock after acquiring an additional 3,977 shares during the period. Resona Asset Management Co. Ltd.'s holdings in DTE Energy were worth $9,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTE. Cloud Capital Management LLC bought a new position in shares of DTE Energy during the 1st quarter worth about $25,000. Olde Wealth Management LLC purchased a new stake in DTE Energy in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of DTE Energy during the first quarter valued at about $28,000. SouthState Corp bought a new position in shares of DTE Energy during the 1st quarter worth approximately $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in DTE Energy in the first quarter worth $31,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DTE has been the subject of several research reports. Barclays increased their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Sunday. Citigroup restated a "buy" rating and issued a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. BMO Capital Markets lifted their price target on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research note on Monday, April 21st. Finally, 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 research note on Friday, May 2nd. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, DTE Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.29.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the transaction, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

DTE Energy Trading Up 1.1%

DTE stock traded up $1.5350 on Tuesday, reaching $138.9350. The company's stock had a trading volume of 118,373 shares, compared to its average volume of 1,393,559. The firm has a market cap of $28.84 billion, a PE ratio of 19.99, a PEG ratio of 2.76 and a beta of 0.42. The business has a fifty day simple moving average of $135.46 and a two-hundred day simple moving average of $133.92. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $141.54. 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 (NYSE:DTE - Get Free Report) last posted its quarterly earnings data 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). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, research analysts forecast that DTE Energy Company will post 7.18 EPS for the current 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 paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is currently 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.