Nemes Rush Group LLC Buys 2,558 Shares of DTE Energy Company (NYSE:DTE)

Key Points

• Nemes Rush Group LLC increased its holdings in DTE Energy by 86.7% during the 1st quarter, acquiring an additional 2,558 shares valued at $762,000.
• DTE Energy reported $2.10 earnings per share for the quarter, exceeding analysts' expectations and showcasing a return on equity of 13.00%.
• The company recently announced a quarterly dividend of $1.09 per share, with a dividend yield of 3.13%, set to be paid on October 15th.

Nemes Rush Group LLC lifted its position in DTE Energy Company (NYSE:DTE - Free Report) by 86.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,508 shares of the utilities provider's stock after acquiring an additional 2,558 shares during the period. Nemes Rush Group LLC's holdings in DTE Energy were worth $762,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cloud Capital Management LLC acquired a new stake in shares of DTE Energy in the 1st quarter valued at approximately $25,000. Olde Wealth Management LLC acquired a new stake in DTE Energy during the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in DTE Energy during the 1st quarter worth approximately $28,000. Mattson Financial Services LLC acquired a new stake in DTE Energy during the 4th quarter worth approximately $38,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in DTE Energy during the 1st quarter worth approximately $41,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on DTE. JPMorgan Chase & Co. raised their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Wells Fargo & Company raised 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. BMO Capital Markets raised their target price on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. Morgan Stanley dropped their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Finally, Citigroup restated a "buy" rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.53.

DTE Energy Stock Performance

Shares of DTE Energy stock traded up $2.36 during trading on Thursday, reaching $137.74. The company's stock had a trading volume of 848,933 shares, compared to its average volume of 1,415,014. The business's 50-day moving average price is $134.32 and its 200-day moving average price is $132.03. The firm has a market cap of $28.58 billion, a PE ratio of 19.81, a P/E/G ratio of 2.72 and a beta of 0.44. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $140.39. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82.

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). The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.71% and a net margin of 10.16%. Equities analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company 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 dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio is presently 58.92%.

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.