IFP Advisors Inc Acquires 9,162 Shares of DTE Energy Company (NYSE:DTE)

IFP Advisors Inc increased its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 116.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,046 shares of the utilities provider's stock after buying an additional 9,162 shares during the quarter. IFP Advisors Inc's holdings in DTE Energy were worth $2,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cloud Capital Management LLC purchased a new position in DTE Energy during the first quarter valued at $25,000. Olde Wealth Management LLC purchased a new position in DTE Energy during the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy during the first quarter valued at approximately $28,000. Mattson Financial Services LLC purchased a new position in DTE Energy during the fourth quarter valued at approximately $38,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in DTE Energy during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Trading Up 0.1%

Shares of DTE Energy stock traded up $0.07 on Friday, reaching $139.09. The company had a trading volume of 190,978 shares, compared to its average volume of 1,395,875. The firm has a market cap of $28.86 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 2.74 and a beta of 0.44. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The firm's 50-day moving average price is $134.35 and its two-hundred day moving average price is $131.56. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the company earned $1.67 earnings per share. As a group, research analysts predict that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued 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 yield of 3.13%. DTE Energy's payout ratio is 58.92%.

Analyst Ratings Changes

A number of research analysts recently weighed in on DTE shares. BMO Capital Markets lifted their target price on shares of DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research note on Monday, April 21st. Citigroup restated a "buy" rating and issued a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Evercore ISI boosted their price target on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Barclays boosted their price target on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Morgan Stanley lowered their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and a consensus price target of $141.53.

DTE Energy 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.