Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in DTE Energy Company (NYSE:DTE)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in DTE Energy by 14.5% in Q1, now holding 375,553 shares valued at approximately $51.93 million.
• Wall Street analysts have mixed views on DTE Energy; while JPMorgan raised the price target to $147.00, Wall Street Zen downgraded it to a "sell" rating.
• DTE Energy declared a quarterly dividend of $1.09 per share, with an annualized yield of 3.1%, to be paid on October 15th.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 14.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375,553 shares of the utilities provider's stock after buying an additional 47,594 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of DTE Energy worth $51,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cloud Capital Management LLC bought a new position in shares of DTE Energy during the first quarter valued at $25,000. Olde Wealth Management LLC bought a new position in shares of DTE Energy during the first 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 $28,000. N.E.W. Advisory Services LLC bought a new position in shares of DTE Energy during the first quarter valued at $31,000. Finally, Mattson Financial Services LLC bought a new position in shares of DTE Energy during the fourth quarter valued at $38,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

Shares of DTE stock traded down $0.35 on Monday, hitting $139.92. The company had a trading volume of 1,195,933 shares, compared to its average volume of 1,358,596. The firm has a market cap of $29.04 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a 50-day moving average price of $134.82 and a 200-day moving average price of $133.07. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $141.54.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. As a group, equities research analysts predict that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 dividend payout ratio is presently 62.73%.

Wall Street Analyst Weigh In

DTE has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research report on Monday, April 21st. Citigroup reaffirmed a "buy" rating and set a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Wells Fargo & Company lifted their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Morgan Stanley dropped their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $141.53.

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.