M1 Capital Management LLC Invests $1.21 Million in DTE Energy Company $DTE

Key Points

• M1 Capital Management acquired 7,963 DTE Energy shares worth approximately $1.21 million, making up 0.4% of its portfolio. Institutional investors collectively own 76.06% of the company.
• Analysts maintain a generally positive outlook, with DTE holding a consensus “Moderate Buy” rating and an average price target of $158.46, above its reported $135.28 share price.
• DTE Energy exceeded quarterly earnings expectations, reporting $1.32 in earnings per share versus the $1.14 consensus estimate, and announced a quarterly dividend of $1.165 per share, representing a 3.4% annualized yield.

M1 Capital Management LLC acquired a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,963 shares of the utilities provider's stock, valued at approximately $1,213,000. DTE Energy accounts for about 0.4% of M1 Capital Management LLC's investment portfolio, making the stock its 29th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in DTE Energy during the fourth quarter worth about $25,000. Quest 10 Wealth Builders Inc. increased its stake in shares of DTE Energy by 754.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 181 shares during the last quarter. Torren Management LLC bought a new stake in shares of DTE Energy in the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in shares of DTE Energy in the 4th quarter valued at approximately $29,000. Finally, Key Financial Inc acquired a new stake in shares of DTE Energy in the 1st quarter valued at approximately $29,000. Institutional investors own 76.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DTE. Truist Financial decreased their price objective on shares of DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. BMO Capital Markets increased their target price on shares of DTE Energy from $148.00 to $150.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.46.

DTE Energy Price Performance

NYSE DTE opened at $135.28 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The stock has a market cap of $28.15 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.00 and a beta of 0.38. The business has a 50 day simple moving average of $146.13 and a 200 day simple moving average of $145.26. 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 announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

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

About DTE Energy

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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