Mizuho Securities USA LLC Has $2.29 Million Position in DTE Energy Company (NYSE:DTE)

Key Points

• Mizuho Securities USA LLC reduced its stock position in DTE Energy Company by 15.5%, selling 3,034 shares and holding a total of 16,594 shares valued at $2,294,000.
• Several hedge funds have initiated new stakes in DTE Energy, with significant investments from firms like Cloud Capital Management and Olde Wealth Management.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, with an annualized dividend yield of 3.1%, contributing to a dividend payout ratio of 62.73%.

Mizuho Securities USA LLC cut its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,594 shares of the utilities provider's stock after selling 3,034 shares during the period. Mizuho Securities USA LLC's holdings in DTE Energy were worth $2,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of DTE Energy by 5.1% during the first quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock worth $303,000 after buying an additional 107 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of DTE Energy by 17.7% during the first quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock worth $293,000 after buying an additional 318 shares during the period. Fifth Third Bancorp boosted its position in shares of DTE Energy by 3.5% during the first quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock worth $1,065,000 after buying an additional 264 shares during the period. GAMMA Investing LLC boosted its position in shares of DTE Energy by 8.3% during the first quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock worth $1,184,000 after buying an additional 658 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new position in shares of DTE Energy during the fourth quarter worth approximately $351,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Price Performance

Shares of NYSE DTE traded down $1.42 during trading on Thursday, hitting $140.07. The company had a trading volume of 1,243,401 shares, compared to its average volume of 1,405,225. The company has a market cap of $29.08 billion, a P/E ratio of 20.15, a PEG ratio of 2.78 and a beta of 0.42. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $141.54. The business's 50-day moving average is $135.14 and its 200 day moving average is $133.32. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. Equities research analysts predict that DTE Energy Company will post 7.18 earnings per share for the current fiscal 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 paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is 62.73%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research 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 for the company in a research report on Thursday, May 22nd. Evercore ISI upped their target price on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Barclays upped their target price on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Citigroup restated a "buy" rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $141.53.

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.