Hsbc Holdings PLC Takes $112.91 Million Position in DTE Energy Company $DTE

Hsbc Holdings PLC purchased a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 739,633 shares of the utilities provider's stock, valued at approximately $112,913,000. Hsbc Holdings PLC owned about 0.36% of DTE Energy as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in DTE. Oregon Public Employees Retirement Fund raised its position in DTE Energy by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider's stock worth $3,481,000 after acquiring an additional 71 shares during the last quarter. Whittier Trust Co. grew its position in shares of DTE Energy by 3.5% in the first quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider's stock valued at $328,000 after purchasing an additional 75 shares during the last quarter. Prosperity Consulting Group LLC increased its stake in shares of DTE Energy by 1.2% during the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider's stock worth $927,000 after purchasing an additional 76 shares in the last quarter. HM Payson & Co. increased its stake in shares of DTE Energy by 23.6% during the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider's stock worth $54,000 after purchasing an additional 80 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of DTE Energy by 1.1% during the 4th quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider's stock worth $1,000,000 after purchasing an additional 87 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Up 0.4%

Shares of NYSE DTE opened at $136.16 on Wednesday. The stock has a market capitalization of $28.33 billion, a PE ratio of 21.54, a P/E/G ratio of 2.95 and a beta of 0.38. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The firm has a fifty day moving average of $145.63 and a 200-day moving average of $145.35. DTE Energy Company has a 52-week low of $126.23 and a 52-week high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the company posted $1.36 EPS. On average, analysts anticipate that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a $1.165 dividend. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's payout ratio is currently 73.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DTE shares. Jefferies Financial Group set a $172.00 price target on DTE Energy in a report on Thursday, July 9th. Barclays cut their price target on DTE Energy from $156.00 to $154.00 and set an "equal weight" rating for the company in a report on Monday, May 4th. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. raised their price objective on DTE Energy from $155.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Finally, Mizuho lowered their price objective on DTE Energy from $165.00 to $164.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $158.46.

DTE Energy Profile

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.

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Company (NYSE:DTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source