Public Employees Retirement System of Ohio Invests $9.44 Million in DTE Energy Company $DTE

Key Points

• Public Employees Retirement System of Ohio acquired 61,925 DTE Energy shares valued at approximately $9.44 million, while institutional investors and hedge funds collectively own 76.06% of the company.
• DTE Energy reported quarterly earnings of $1.32 per share, exceeding the $1.14 consensus estimate, on revenue of $6.74 billion. Analysts expect full-year earnings of $7.71 per share.
• The company declared a quarterly dividend of $1.165, equivalent to $4.66 annually and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $157, above the reported share price of $135.75.

Public Employees Retirement System of Ohio purchased a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 61,925 shares of the utilities provider's stock, valued at approximately $9,436,000.

Other large investors have also recently bought and sold shares of the company. Convergence Investment Partners LLC acquired a new position in DTE Energy in the 1st quarter valued at approximately $3,142,000. Louisiana State Employees Retirement System purchased a new stake in DTE Energy in the 1st quarter worth approximately $1,550,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of DTE Energy during the 2nd quarter valued at $2,236,000. Capital Innovations LLC purchased a new position in shares of DTE Energy during the 4th quarter valued at $1,014,000. Finally, Callan Family Office LLC purchased a new position in shares of DTE Energy during the 2nd quarter valued at $1,438,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Trading Down 0.1%

Shares of NYSE:DTE opened at $135.75 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The stock has a market capitalization of $28.25 billion, a PE ratio of 21.48, a P/E/G ratio of 2.95 and a beta of 0.38. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The firm has a fifty day moving average price of $144.75 and a 200 day moving average price of $145.36.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the company earned $1.36 earnings per share. Analysts expect that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be paid a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's dividend payout ratio (DPR) is presently 73.73%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DTE. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a report on Thursday, July 9th. Barclays lowered their target price on DTE Energy from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research note on Monday, May 4th. Mizuho dropped their target price on DTE Energy from $164.00 to $152.00 and set an "outperform" rating on the stock in a research report on Thursday. Truist Financial cut their price target on DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price target on shares of DTE Energy in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.00.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company's utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Company (NYSE:DTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source