iA Global Asset Management Inc. acquired a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,839 shares of the utilities provider's stock, valued at approximately $393,000.
A number of other large investors have also modified their holdings of DTE. Cloud Capital Management LLC acquired a new position in shares of DTE Energy in the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy in the first quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in DTE Energy in the first quarter valued at about $28,000. N.E.W. Advisory Services LLC acquired a new position in DTE Energy in the first quarter worth about $31,000. Finally, Mattson Financial Services LLC bought a new position in DTE Energy during the fourth quarter worth about $38,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. 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 report on Monday, April 21st. 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 research note on Friday, May 2nd. Finally, Wells Fargo & Company increased their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. One 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $141.53.
Check Out Our Latest Analysis on DTE
DTE Energy Price Performance
Shares of DTE stock opened at $140.13 on Friday. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $141.54. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The firm's 50 day moving average is $134.74 and its 200-day moving average is $132.77. The firm has a market capitalization of $29.09 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.76 and a beta of 0.42.
DTE Energy (NYSE:DTE - Get Free Report) last posted 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 analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Sell-side analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal 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 given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is presently 62.73%.
About DTE Energy
(
Free Report)
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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