EP Wealth Advisors LLC acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,844 shares of the utilities provider's stock, valued at approximately $4,395,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in DTE. Vanguard Group Inc. grew its position in DTE Energy by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider's stock valued at $3,392,888,000 after buying an additional 766,499 shares during the period. BlackRock Inc. purchased a new stake in DTE Energy during the second quarter valued at approximately $3,915,284,000. Capital Research Global Investors raised its position in DTE Energy by 3.1% in the fourth quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider's stock worth $1,605,539,000 after acquiring an additional 379,443 shares during the period. State Street Corp raised its position in DTE Energy by 2.5% in the fourth quarter. State Street Corp now owns 11,078,346 shares of the utilities provider's stock worth $1,441,776,000 after acquiring an additional 272,068 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of DTE Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider's stock worth $718,668,000 after acquiring an additional 117,322 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price objective on shares of DTE Energy in a research report on Monday, June 15th. Weiss Ratings raised DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. raised their target price on DTE Energy from $155.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Jefferies Financial Group set a $172.00 target price on DTE Energy in a research report on Thursday, July 9th. Finally, BMO Capital Markets boosted their price target on DTE Energy from $148.00 to $150.00 and gave the company a "market perform" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $158.46.
Check Out Our Latest Analysis on DTE Energy
DTE Energy Price Performance
Shares of NYSE:DTE opened at $135.28 on Friday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a market capitalization of $28.15 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.94 and a beta of 0.38. The firm's 50 day simple moving average is $146.13 and its two-hundred day simple moving average is $145.26.
DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the prior year, the company posted $1.36 earnings per share. Research analysts expect that DTE Energy Company will post 7.71 EPS for the current fiscal year.
DTE Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy's dividend payout ratio is presently 73.73%.
About DTE Energy
(
Free Report)
DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company's utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.
Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.
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