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

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

Other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new position in DTE Energy in the first quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new stake in shares of DTE Energy during the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of DTE Energy in the 1st quarter valued at $28,000. N.E.W. Advisory Services LLC acquired a new stake in DTE Energy during the 1st quarter worth $31,000. Finally, Mattson Financial Services LLC purchased a new stake in DTE Energy in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays raised their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Citigroup restated a "buy" rating and set a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Evercore ISI lifted their price target on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. 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 company. Based on data from MarketBeat.com, DTE Energy currently has an average rating of "Moderate Buy" and an average target price of $141.53.

DTE Energy Trading Up 0.1%

Shares of DTE Energy stock opened at $138.48 on Monday. The firm has a market cap of $28.75 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 2.75 and a beta of 0.42. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $140.39. The company's 50-day simple moving average is $134.44 and its 200-day simple moving average is $132.45. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The business had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. As a group, equities research analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 annualized dividend and a yield of 3.1%. DTE Energy's dividend payout ratio is presently 62.73%.

DTE Energy Company 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.

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