Empower Advisory Group LLC Makes New Investment in DTE Energy Company (NYSE:DTE)

Key Points

• Empower Advisory Group LLC made a new investment in DTE Energy by acquiring 1,845 shares valued at approximately $255,000 during the 1st quarter.
• The company's stock has seen a recent price increase, reaching $140.13, reflecting a market capitalization of $29.09 billion.
• DTE Energy will pay a quarterly dividend of $1.09 per share on October 15th, representing an annualized yield of 3.1%.

Empower Advisory Group LLC bought a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,845 shares of the utilities provider's stock, valued at approximately $255,000.

Several other hedge funds have also recently made changes to their positions in the business. Graypoint LLC increased its position in DTE Energy by 3.8% during the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock valued at $279,000 after purchasing an additional 74 shares during the period. UMB Bank n.a. boosted its stake in shares of DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after purchasing an additional 78 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of DTE Energy by 2.0% during the first quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after buying an additional 78 shares during the period. Stephens Inc. AR increased its position in shares of DTE Energy by 1.8% during the first quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock valued at $630,000 after buying an additional 81 shares during the period. Finally, First American Bank raised its stake in DTE Energy by 0.7% in the first quarter. First American Bank now owns 12,304 shares of the utilities provider's stock worth $1,701,000 after buying an additional 85 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.7%

Shares of DTE Energy stock opened at $140.13 on Friday. The company has a 50-day simple moving average of $134.74 and a two-hundred day simple moving average of $132.77. The stock has a market capitalization of $29.09 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.76 and a beta of 0.42. DTE Energy Company has a 52-week low of $115.59 and a 52-week 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 announced its quarterly earnings results 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 net margin of 10.16% and a return on equity of 12.72%. On average, analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $1.09 per share. The ex-dividend date 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 62.73%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DTE. BMO Capital Markets lifted 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. Barclays lifted their price target on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Evercore ISI boosted their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $141.53.

DTE Energy Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.