Dynamic Technology Lab Private Ltd Takes $567,000 Position in DTE Energy Company $DTE

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in DTE Energy Company, purchasing 4,101 shares valued at approximately $567,000.
• Several hedge funds have recently increased their holdings in DTE Energy, with notable increases from D. E. Shaw & Co., which boosted its stake by 1,064.5%.
• DTE Energy's shares have a consensus price target of $144.25, with upgrades and positive ratings from various analysts including a shift from "sell" to "hold" from Wall Street Zen.

Dynamic Technology Lab Private Ltd acquired a new stake in DTE Energy Company (NYSE:DTE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,101 shares of the utilities provider's stock, valued at approximately $567,000.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers grew its position in shares of DTE Energy by 2.1% during the 4th quarter. Cetera Investment Advisers now owns 30,038 shares of the utilities provider's stock valued at $3,627,000 after purchasing an additional 622 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in DTE Energy by 1,064.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,671 shares of the utilities provider's stock valued at $11,069,000 after buying an additional 83,799 shares during the period. Ethic Inc. purchased a new position in DTE Energy during the fourth quarter worth about $784,000. LMR Partners LLP bought a new position in DTE Energy in the 4th quarter worth about $799,000. Finally, Lazard Asset Management LLC increased its stake in DTE Energy by 78.8% in the 4th quarter. Lazard Asset Management LLC now owns 5,547 shares of the utilities provider's stock worth $669,000 after acquiring an additional 2,444 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction dated 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 approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DTE shares. Wall Street Zen upgraded DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. BMO Capital Markets lifted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Citigroup reissued a "buy" rating and issued a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Morgan Stanley set a $140.00 price objective on shares of DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. Finally, Barclays lifted their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.25.

DTE Energy Trading Up 0.4%

Shares of DTE opened at $135.69 on Thursday. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.05. The firm has a market cap of $28.17 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.68 and a beta of 0.42. The firm has a 50 day moving average price of $136.98 and a 200-day moving average price of $135.13. 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 issued 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). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The business had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. As a group, equities research analysts forecast that DTE Energy Company will post 7.18 earnings per share 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 given a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. DTE Energy's payout ratio is presently 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.

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