19,895 Shares in DTE Energy Company (NYSE:DTE) Bought by Inspire Advisors LLC

Key Points

• Inspire Advisors LLC has acquired a new stake in DTE Energy, purchasing 19,895 shares valued at approximately $2.75 million in the 1st quarter.
• Wall Street analysts have raised their target prices for DTE Energy, with Wells Fargo increasing it from $145.00 to $154.00 and a consensus average price target of $141.53.
• DTE Energy reported a quarterly earnings per share of $2.10, exceeding estimates by $0.12, alongside a declared dividend of $1.09 per share, set to be paid on October 15th.

Inspire Advisors LLC purchased 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 & Exchange Commission. The fund purchased 19,895 shares of the utilities provider's stock, valued at approximately $2,751,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DTE. Graypoint LLC lifted its position in shares of DTE Energy by 3.8% during the first quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock worth $279,000 after purchasing an additional 74 shares in the last quarter. UMB Bank n.a. lifted its position in shares of DTE Energy by 0.9% during the first quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock worth $1,250,000 after purchasing an additional 78 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in DTE Energy by 2.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock worth $542,000 after purchasing an additional 78 shares during the last quarter. Stephens Inc. AR raised its holdings in DTE Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock worth $630,000 after purchasing an additional 81 shares during the last quarter. Finally, First American Bank lifted its position in DTE Energy by 0.7% during the 1st quarter. First American Bank now owns 12,304 shares of the utilities provider's stock valued at $1,701,000 after purchasing an additional 85 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Up 0.2%

Shares of DTE traded up $0.27 on Wednesday, hitting $137.37. The company's stock had a trading volume of 483,065 shares, compared to its average volume of 1,408,193. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. The firm's fifty day moving average price is $134.33 and its 200-day moving average price is $132.00. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $140.39. The firm has a market capitalization of $28.51 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 2.73 and a beta of 0.44.

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

DTE Energy Dividend Announcement

The business also recently disclosed 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 is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.17%. DTE Energy's payout ratio is 58.92%.

Analysts Set New Price Targets

A number of research firms have issued reports on DTE. Evercore ISI upped their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Citigroup restated a "buy" rating and issued a $151.00 price objective (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays increased their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company increased their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.53.

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.