Petrus Trust Company LTA Takes $358,000 Position in DTE Energy Company $DTE

Key Points

• Petrus Trust Company LTA acquired 2,587 shares of DTE Energy valued at approximately $358,000 in the first quarter, according to its latest SEC filing.
• DTE Energy's quarterly earnings report revealed an EPS of $1.36, falling short of the consensus estimate, while revenue surpassed expectations at $2.91 billion.
• The company announced a quarterly dividend of $1.09, reflecting a 3.2% yield, to be paid on October 15th, with a payout ratio of 62.73%.

Petrus Trust Company LTA acquired a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,587 shares of the utilities provider's stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors have also modified their holdings of DTE. Cloud Capital Management LLC purchased a new stake in shares of DTE Energy during the first quarter worth $25,000. Olde Wealth Management LLC purchased a new stake in shares of DTE Energy during the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DTE Energy during the first quarter worth $28,000. SouthState Corp bought a new position in DTE Energy during the first quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC bought a new position in DTE Energy during the first quarter valued at about $31,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DTE. Citigroup restated a "buy" rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Morgan Stanley set a $140.00 price target on DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. Finally, BMO Capital Markets raised their price target on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.25.

DTE Energy Stock Performance

DTE stock traded down $0.02 during trading on Friday, reaching $136.74. 940,281 shares of the stock were exchanged, compared to its average volume of 907,431. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05. The company has a market capitalization of $28.39 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 2.72 and a beta of 0.42. The stock has a 50 day simple moving average of $137.23 and a 200-day simple moving average of $135.18. 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 released its earnings results 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). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. As a group, sell-side 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 declared 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. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.2%. DTE Energy's dividend payout ratio (DPR) is currently 62.73%.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the transaction, the vice president owned 4,153 shares in the company, valued at $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

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.