Ethos Financial Group LLC Purchases New Shares in DTE Energy Company $DTE

Key Points

• Ethos Financial Group LLC has invested approximately $507,000 to acquire 3,668 shares in DTE Energy Company during the first quarter.
• DTE Energy recently declared a quarterly dividend of $1.09 per share, with an annualized yield of 3.1%, to be paid on October 15th.
• Despite a revenue of $2.91 billion for the last quarter, DTE Energy reported earnings per share of $1.36, falling short of analysts' expectations.

Ethos Financial Group LLC acquired a new stake in DTE Energy Company (NYSE:DTE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,668 shares of the utilities provider's stock, valued at approximately $507,000.

A number of other institutional investors also recently bought and sold shares of the business. Cloud Capital Management LLC purchased a new stake in shares of DTE Energy in the first quarter valued at about $25,000. Olde Wealth Management LLC purchased a new stake in shares of DTE Energy in the first quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DTE Energy in the first quarter valued at about $28,000. SouthState Corp purchased a new stake in shares of DTE Energy in the first quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of DTE Energy in the first quarter valued at about $31,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction that occurred on 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 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on DTE shares. Evercore ISI boosted their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wells Fargo & Company boosted their price objective 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. Citigroup reissued a "buy" rating and set a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective 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. Finally, Wall Street Zen raised shares of DTE Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $142.29.

DTE Energy Price Performance

Shares of NYSE DTE traded down $0.3280 on Friday, hitting $139.8720. The company's stock had a trading volume of 1,257,249 shares, compared to its average volume of 1,309,809. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $142.05. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. The stock has a 50 day moving average of $135.85 and a 200-day moving average of $134.27.

DTE Energy (NYSE:DTE - Get Free Report) last announced 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 firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. As a group, research analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.1%. DTE Energy's dividend 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.