Meiji Yasuda Asset Management Co Ltd. Buys Shares of 23,613 DTE Energy Company $DTE

Key Points

• Meiji Yasuda Asset Management bought 23,613 shares of DTE Energy in the second quarter, valued at approximately $3.6 million. Institutional investors collectively own 76.06% of the company.
• DTE Energy reported quarterly EPS of $1.32, exceeding analysts’ $1.14 estimate, on revenue of $6.74 billion. Analysts expect full-year EPS of approximately $7.71.
• The company declared a quarterly dividend of $1.165 per share, equivalent to $4.66 annually and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus rating with a $158.46 average price target.

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 23,613 shares of the utilities provider's stock, valued at approximately $3,598,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTE. Oregon Public Employees Retirement Fund increased its position in shares of DTE Energy by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider's stock worth $3,481,000 after buying an additional 71 shares during the period. Whittier Trust Co. grew its holdings in DTE Energy by 3.5% during the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider's stock worth $328,000 after acquiring an additional 75 shares during the period. Prosperity Consulting Group LLC lifted its stake in shares of DTE Energy by 1.2% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider's stock valued at $927,000 after purchasing an additional 76 shares during the period. HM Payson & Co. boosted its position in shares of DTE Energy by 23.6% during the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider's stock valued at $54,000 after purchasing an additional 80 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of DTE Energy by 1.1% during the 4th quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider's stock valued at $1,000,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DTE. TD Cowen began coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a "hold" rating and a $166.00 price target on the stock. Truist Financial reduced their price target 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. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $155.00 to $162.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price objective on shares of DTE Energy in a report on Monday, June 15th. Finally, Mizuho cut their price objective on shares of DTE Energy from $165.00 to $164.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. One research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.46.

DTE Energy Trading Up 0.4%

NYSE DTE opened at $135.71 on Tuesday. The company has a market cap of $28.24 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 2.94 and a beta of 0.38. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The business has a 50 day moving average price of $145.89 and a 200-day moving average price of $145.34. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.36 billion. During the same period last year, the business earned $1.36 EPS. As a group, equities analysts expect that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.4%. DTE Energy's dividend payout ratio is presently 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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