R Squared Ltd Makes New Investment in DTE Energy Company (NYSE:DTE)

Key Points

• R Squared Ltd has acquired a new stake in DTE Energy Company, purchasing 2,990 shares valued at approximately $413,000 in the first quarter.
• Analysts have provided mixed ratings on DTE Energy, with one rating it a sell, five as hold, and ten as buy, leading to an average rating of "Moderate Buy".
• DTE Energy's recent quarterly earnings showed a miss in EPS at $1.36 compared to expectations, but revenue of $2.91 billion exceeded analyst predictions.

R Squared Ltd bought a new position in DTE Energy Company (NYSE:DTE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 2,990 shares of the utilities provider's stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bessemer Group Inc. increased its position in shares of DTE Energy by 5.1% during the 1st quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock worth $303,000 after purchasing an additional 107 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of DTE Energy by 39.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock worth $693,000 after purchasing an additional 1,618 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of DTE Energy by 17.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock worth $293,000 after purchasing an additional 318 shares during the last quarter. Fifth Third Bancorp increased its position in shares of DTE Energy by 3.5% during the 1st quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock worth $1,065,000 after purchasing an additional 264 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of DTE Energy by 8.3% during the 1st quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock worth $1,184,000 after purchasing an additional 658 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DTE. JPMorgan Chase & Co. raised their price objective on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Morgan Stanley cut their price objective on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Evercore ISI lifted their target price on DTE Energy from $136.00 to $145.00 and gave the company 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 research report on Friday, May 16th. Finally, Barclays lifted their target price on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and an average price target of $141.53.

DTE Energy Stock Performance

Shares of DTE Energy stock traded up $0.07 during trading hours on Friday, hitting $138.48. 1,411,978 shares of the company were exchanged, compared to its average volume of 1,462,588. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $140.39. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average of $134.44 and a 200-day moving average of $132.45. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 2.75 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. As a group, analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal 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%.

About DTE Energy

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.