Mirae Asset Global Investments Co. Ltd. Purchases 3,250 Shares of DTE Energy Company (NYSE:DTE)

Mirae Asset Global Investments Co. Ltd. raised its stake in DTE Energy Company (NYSE:DTE - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,052 shares of the utilities provider's stock after purchasing an additional 3,250 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in DTE Energy were worth $3,012,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its position in DTE Energy by 0.9% in the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after purchasing an additional 78 shares during the period. First American Bank lifted its stake in shares of DTE Energy by 0.7% in the first quarter. First American Bank now owns 12,304 shares of the utilities provider's stock valued at $1,701,000 after buying an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of DTE Energy by 8.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider's stock valued at $146,000 after buying an additional 90 shares during the last quarter. My Legacy Advisors LLC increased its position in shares of DTE Energy by 2.4% during the first quarter. My Legacy Advisors LLC now owns 4,132 shares of the utilities provider's stock worth $571,000 after acquiring an additional 95 shares in the last quarter. Finally, Bernard Wealth Management Corp. raised its holdings in shares of DTE Energy by 1.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 10,190 shares of the utilities provider's stock worth $1,409,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

Wall Street Analyst Weigh In

DTE has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Morgan Stanley cut their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Evercore ISI upped their price target on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Citigroup restated a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Finally, Guggenheim lifted their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.93.

DTE Energy Stock Performance

Shares of DTE traded down $0.18 during mid-day trading on Thursday, hitting $130.50. The stock had a trading volume of 1,384,022 shares, compared to its average volume of 1,286,880. DTE Energy Company has a 52 week low of $108.40 and a 52 week high of $140.39. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The business has a fifty day moving average price of $134.82 and a 200-day moving average price of $130.01. The firm has a market cap of $27.08 billion, a P/E ratio of 17.64, a PEG ratio of 2.40 and a beta of 0.44.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business earned $1.67 EPS. On average, equities research analysts expect that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business 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. This represents a $4.36 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is presently 58.92%.

About DTE Energy

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.