OVERSEA CHINESE BANKING Corp Ltd Invests $401,000 in DTE Energy Company (NYSE:DTE)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,900 shares of the utilities provider's stock, valued at approximately $401,000.

Several other hedge funds have also recently made changes to their positions in the business. Cloud Capital Management LLC bought a new stake in shares of DTE Energy during the first quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new stake in shares of DTE Energy during the first quarter valued at approximately $27,000. Mattson Financial Services LLC bought a new stake in shares of DTE Energy during the fourth quarter valued at approximately $38,000. Financial Gravity Asset Management Inc. bought a new stake in shares of DTE Energy during the first quarter valued at approximately $41,000. Finally, Bank of New Hampshire bought a new stake in shares of DTE Energy during the first quarter valued at approximately $55,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DTE shares. Wells Fargo & Company lifted their price target on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. BMO Capital Markets lifted their price target on DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research report on Monday, April 21st. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Guggenheim boosted their target price on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. boosted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $141.53.

DTE Energy Price Performance

Shares of NYSE:DTE traded up $1.75 during trading on Friday, hitting $136.48. 177,705 shares of the company's stock were exchanged, compared to its average volume of 1,402,302. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. DTE Energy Company has a 52-week low of $115.48 and a 52-week high of $140.39. The business's 50-day simple moving average is $133.92 and its 200 day simple moving average is $130.95. The company has a market cap of $28.32 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.29 and a beta of 0.44.

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

DTE Energy Announces Dividend

The business 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. This represents a $4.36 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is 58.92%.

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.