Massachusetts Financial Services Co. MA decreased its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 14.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,416,625 shares of the utilities provider's stock after selling 237,360 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.68% of DTE Energy worth $195,877,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its position in shares of DTE Energy by 5.1% during the 1st quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after purchasing an additional 107 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of DTE Energy by 39.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock valued at $693,000 after purchasing an additional 1,618 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of DTE Energy by 17.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock valued at $293,000 after purchasing an additional 318 shares during the last quarter. Fifth Third Bancorp increased its position in shares of DTE Energy by 3.5% during the 1st quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock valued at $1,065,000 after purchasing an additional 264 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of DTE Energy by 8.3% during the 1st quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock valued at $1,184,000 after purchasing an additional 658 shares during the last quarter. Institutional investors own 76.06% of the company's stock.
DTE Energy Stock Up 0.6%
Shares of DTE stock traded up $0.87 during midday trading on Thursday, reaching $135.10. 400,993 shares of the stock were exchanged, compared to its average volume of 1,296,382. DTE Energy Company has a 1 year low of $114.77 and a 1 year high of $140.39. The company's 50 day moving average is $133.94 and its two-hundred day moving average is $130.85. The company has a current ratio of 0.87, a quick ratio of 0.59 and a debt-to-equity ratio of 1.82. The firm has a market cap of $28.03 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.27 and a beta of 0.44.
DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the business earned $1.67 EPS. On average, equities research analysts predict that DTE Energy Company will post 7.18 EPS for the current year.
DTE Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.23%. DTE Energy's dividend payout ratio (DPR) is 58.92%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on DTE. Barclays boosted their target price on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday. Morgan Stanley lowered their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Citigroup reissued a "buy" rating and issued a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Finally, Evercore ISI boosted their target price on DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.53.
Get Our Latest Research Report on DTE
DTE Energy Profile
(
Free Report)
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.
Further Reading
Before you consider DTE Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DTE Energy wasn't on the list.
While DTE Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
