OMERS ADMINISTRATION Corp Makes New Investment in DTE Energy Company $DTE

Key Points

• OMERS Administration Corp. initiated a position in DTE Energy, purchasing 14,673 shares worth approximately $2.24 million in the second quarter. Institutional investors collectively own 76.06% of the utility company.
• DTE Energy reported quarterly earnings of $1.32 per share, beating analyst expectations of $1.14, while revenue reached $6.74 billion. Analysts expect full-year earnings of approximately $7.71 per share.
• The company declared a quarterly dividend of $1.165 per share, equivalent to an annualized $4.66 payout and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $158.46.

OMERS ADMINISTRATION Corp purchased a new position in DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,673 shares of the utilities provider's stock, valued at approximately $2,236,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Louisiana State Employees Retirement System bought a new stake in shares of DTE Energy during the 1st quarter valued at about $1,550,000. Convergence Investment Partners LLC purchased a new stake in shares of DTE Energy during the 1st quarter valued at about $3,142,000. Capital Innovations LLC bought a new position in shares of DTE Energy in the 4th quarter worth approximately $1,014,000. Vanguard Group Inc. lifted its stake in shares of DTE Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider's stock worth $3,392,888,000 after purchasing an additional 766,499 shares during the period. Finally, Oxbow Advisors LLC purchased a new position in shares of DTE Energy in the fourth quarter worth approximately $3,145,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Trading Up 1.1%

DTE Energy stock opened at $137.61 on Thursday. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The firm has a market capitalization of $28.64 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 2.96 and a beta of 0.38. The firm has a 50 day moving average of $145.44 and a 200 day moving average of $145.36. 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. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the firm earned $1.36 earnings per share. As a group, research analysts predict that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be paid a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. DTE Energy's payout ratio is 73.73%.

Analyst Upgrades and Downgrades

A number of analysts have commented on DTE shares. Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price target on shares of DTE Energy in a research note on Monday, June 15th. TD Cowen started coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price objective for the company. BMO Capital Markets upped their price objective on DTE Energy from $148.00 to $150.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group set a $172.00 target price on DTE Energy in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, DTE Energy currently has an average rating of "Moderate Buy" and a consensus target price of $158.46.

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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