Man Group plc Purchases New Position in DTE Energy Company $DTE

Key Points

• Man Group acquired 33,925 DTE Energy shares during the second quarter, valued at approximately $5.17 million. Institutional investors collectively own 76.06% of the utility’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $157, despite several firms recently lowering their targets.
• DTE shares opened at $135.75, while the company reported quarterly EPS of $1.32, exceeding estimates of $1.14. DTE also declared a quarterly dividend of $1.165 per share, representing a 3.4% annualized yield.

Man Group plc acquired a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 33,925 shares of the utilities provider's stock, valued at approximately $5,169,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DTE. First Bancorp Inc ME acquired a new position in shares of DTE Energy during the second quarter worth $29,000. Laurel Wealth Advisors LLC acquired a new stake in shares of DTE Energy during the 4th quarter valued at $25,000. Key Financial Inc bought a new stake in DTE Energy during the 1st quarter worth $29,000. Elyxium Wealth LLC bought a new stake in DTE Energy during the 4th quarter worth $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in DTE Energy in the 2nd quarter worth about $35,000. Institutional investors own 76.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DTE. BMO Capital Markets dropped their target price on DTE Energy from $150.00 to $143.00 and set a "market perform" rating for the company in a research report on Friday. Truist Financial reduced their price target on DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. TD Cowen initiated coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a "hold" rating and a $166.00 price objective for the company. Mizuho dropped their price objective on shares of DTE Energy from $164.00 to $152.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $157.00.

DTE Energy Stock Down 0.1%

Shares of DTE opened at $135.75 on Monday. The stock's 50-day moving average price is $144.97 and its two-hundred day moving average price is $145.37. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74. The company has a market capitalization of $28.25 billion, a PE ratio of 21.48, a PEG ratio of 2.95 and a beta of 0.38. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $3.36 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. On average, analysts anticipate that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

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 given 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 of this dividend is Monday, September 21st. DTE Energy's dividend payout ratio is currently 73.73%.

DTE Energy Profile

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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