Mackenzie Financial Corp Acquires 4,120 Shares of DTE Energy Company (NYSE:DTE)

Key Points

• Mackenzie Financial Corp increased its holdings in DTE Energy by 21.6%, now owning 23,185 shares valued at approximately $3.21 million.
• DTE Energy reported a quarterly earnings miss with an EPS of $1.36, slightly below the consensus estimate of $1.37, but exceeding revenue expectations with $2.91 billion.
• The company announced a quarterly dividend of $1.09 per share with a dividend yield of 3.1%, paid to shareholders on October 15th.

Mackenzie Financial Corp increased its stake in DTE Energy Company (NYSE:DTE - Free Report) by 21.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,185 shares of the utilities provider's stock after acquiring an additional 4,120 shares during the period. Mackenzie Financial Corp's holdings in DTE Energy were worth $3,206,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DTE. Capital World Investors raised its stake in shares of DTE Energy by 123.2% in the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock worth $823,905,000 after buying an additional 3,766,221 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of DTE Energy by 14,878.4% during the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after purchasing an additional 1,175,689 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of DTE Energy by 1,794.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock worth $111,159,000 after purchasing an additional 871,978 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of DTE Energy by 750.0% in the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock worth $116,482,000 after purchasing an additional 851,169 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in DTE Energy by 50.2% during the fourth quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider's stock worth $297,358,000 after buying an additional 822,854 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

Analyst Ratings Changes

DTE has been the subject of several research reports. Barclays raised their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Morgan Stanley reduced their price objective on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. BMO Capital Markets lifted their target price on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research report on Monday, April 21st. Wells Fargo & Company raised their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on 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 assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $141.53.

DTE Energy Stock Up 1.7%

DTE stock traded up $2.40 during trading hours on Monday, hitting $140.91. The company's stock had a trading volume of 1,401,441 shares, compared to its average volume of 1,421,338. The company has a market capitalization of $29.25 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 2.75 and a beta of 0.42. The stock has a 50 day moving average price of $134.44 and a two-hundred day moving average price of $132.45. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. DTE Energy Company has a 12 month low of $115.59 and a 12 month high of $141.12.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The business 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%. On average, equities research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. DTE Energy's dividend payout ratio (DPR) is presently 62.73%.

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.