Principal Financial Group Inc. Raises Stake in DTE Energy Company (NYSE:DTE)

Principal Financial Group Inc. increased its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,103 shares of the utilities provider's stock after buying an additional 7,297 shares during the period. Principal Financial Group Inc. owned about 0.13% of DTE Energy worth $36,103,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in DTE Energy during the 4th quarter worth approximately $38,000. Bank of New Hampshire bought a new position in DTE Energy during the 1st quarter worth approximately $55,000. Rossby Financial LCC bought a new position in DTE Energy during the 1st quarter worth approximately $69,000. First Horizon Advisors Inc. raised its holdings in DTE Energy by 28.5% during the 1st quarter. First Horizon Advisors Inc. now owns 527 shares of the utilities provider's stock worth $73,000 after purchasing an additional 117 shares during the last quarter. Finally, Colonial Trust Co SC raised its holdings in DTE Energy by 1,266.7% during the 4th quarter. Colonial Trust Co SC now owns 656 shares of the utilities provider's stock worth $79,000 after purchasing an additional 608 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Down 0.7%

Shares of NYSE DTE traded down $0.88 during trading on Tuesday, hitting $130.25. The stock had a trading volume of 1,548,726 shares, compared to its average volume of 1,414,997. DTE Energy Company has a 12 month low of $108.40 and a 12 month high of $140.39. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The company has a market capitalization of $27.03 billion, a PE ratio of 17.60, a PEG ratio of 2.40 and a beta of 0.44. The firm has a fifty day moving average of $134.51 and a two-hundred day moving average of $130.39.

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

DTE Energy Announces Dividend

The company also recently announced 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 of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.35%. DTE Energy's payout ratio is 58.92%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DTE. Morgan Stanley lowered their price target on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Guggenheim boosted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Citigroup reiterated a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. BMO Capital Markets boosted their target price on shares of DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research report on Monday, April 21st. Finally, Evercore ISI boosted their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $140.93.

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.