Jupiter Topco LLC acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,132,273 shares of the utilities provider's stock, valued at approximately $477,264,000. Jupiter Topco LLC owned about 1.51% of DTE Energy as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of DTE Energy during the 4th quarter valued at $25,000. Key Financial Inc purchased a new position in DTE Energy during the 1st quarter worth $29,000. Torren Management LLC purchased a new position in DTE Energy during the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in DTE Energy during the 4th quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in DTE Energy during the 2nd quarter valued at about $35,000. Institutional investors own 76.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on DTE shares. Morgan Stanley lowered their target price on shares of DTE Energy from $153.00 to $148.00 and set an "overweight" rating for the company in a research note on Friday. Mizuho cut their price target on DTE Energy from $165.00 to $164.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a research note on Thursday, July 9th. Barclays decreased their price objective 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. Finally, Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, DTE Energy has a consensus rating of "Moderate Buy" and a consensus price target of $158.46.
Check Out Our Latest Analysis on DTE
DTE Energy Stock Performance
DTE opened at $136.16 on Wednesday. The firm has a fifty day moving average price of $145.63 and a 200 day moving average price of $145.35. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The stock has a market cap of $28.33 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.95 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.
DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the business earned $1.36 earnings per share. Equities research analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current year.
DTE Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. DTE Energy's dividend payout ratio (DPR) is 73.73%.
DTE Energy Profile
(
Free Report)
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.
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