Optimize Financial Inc Invests $263,000 in DTE Energy Company $DTE

Key Points

• Optimize Financial Inc acquired 1,903 shares of DTE Energy Company, valued at approximately $263,000, marking their new stake in the utilities provider.
• Several hedge funds, including GAMMA Investing LLC and Goldman Sachs Group Inc., significantly increased their stakes in DTE Energy in the first quarter, reflecting growing institutional interest in the company.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, with a payout ratio of 62.73%, set to be paid on October 15th.

Optimize Financial Inc acquired a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,903 shares of the utilities provider's stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Graypoint LLC lifted its position in DTE Energy by 3.8% during the first quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock valued at $279,000 after acquiring an additional 74 shares during the last quarter. UMB Bank n.a. lifted its position in DTE Energy by 0.9% during the first quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after acquiring an additional 78 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in DTE Energy by 2.0% during the first quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after acquiring an additional 78 shares during the last quarter. Stephens Inc. AR lifted its position in DTE Energy by 1.8% during the first quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock valued at $630,000 after acquiring an additional 81 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in DTE Energy by 1.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,721 shares of the utilities provider's stock valued at $929,000 after acquiring an additional 82 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DTE has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. BMO Capital Markets increased their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Morgan Stanley set a $140.00 target price on shares of DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. Wall Street Zen raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Finally, Barclays increased their target price on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.25.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president owned 4,153 shares in the company, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $0.02 during midday trading on Friday, reaching $136.74. The company had a trading volume of 940,281 shares, compared to its average volume of 907,431. The business's 50-day simple moving average is $137.23 and its 200 day simple moving average is $135.18. The stock has a market cap of $28.39 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.72 and a beta of 0.42. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96.

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 analysts' consensus estimates of $1.37 by ($0.01). The company had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. On average, analysts forecast that DTE Energy Company will post 7.18 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 Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. DTE Energy's dividend payout ratio is presently 62.73%.

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.