Rakuten Investment Management Inc. Takes $5.24 Million Position in DTE Energy Company $DTE

Key Points

• Rakuten Investment Management acquired 34,026 shares of DTE Energy in the second quarter, worth approximately $5.24 million. Institutional investors and hedge funds collectively own 76.06% of the company.
• DTE Energy reported quarterly EPS of $1.32, exceeding analysts’ $1.14 estimate, while revenue reached $6.74 billion. Analysts expect full-year EPS of approximately $7.71.
• DTE declared a quarterly dividend of $1.165 per share, equivalent to an annualized $4.66 and a 3.4% yield. Despite several reduced price targets, analysts maintain a “Moderate Buy” consensus with a $157 target price.

Rakuten Investment Management Inc. acquired a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,026 shares of the utilities provider's stock, valued at approximately $5,241,000.

Other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its holdings in DTE Energy by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider's stock valued at $3,481,000 after buying an additional 71 shares during the last quarter. Whittier Trust Co. increased its position in DTE Energy by 3.5% during the first quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider's stock worth $328,000 after buying an additional 75 shares in the last quarter. Prosperity Consulting Group LLC raised its holdings in shares of DTE Energy by 1.2% in the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider's stock worth $927,000 after acquiring an additional 76 shares during the last quarter. HM Payson & Co. raised its holdings in shares of DTE Energy by 23.6% in the fourth quarter. HM Payson & Co. now owns 419 shares of the utilities provider's stock worth $54,000 after acquiring an additional 80 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of DTE Energy by 1.1% in the fourth quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider's stock worth $1,000,000 after acquiring an additional 87 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Trading Down 0.4%

Shares of DTE opened at $135.75 on Friday. DTE Energy Company has a fifty-two week low of $126.23 and a fifty-two week high of $155.74. The company has a market capitalization of $28.25 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38. The stock has a fifty day moving average of $144.97 and a two-hundred day moving average of $145.30. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter last year, the firm earned $1.36 earnings per share. As a group, analysts forecast that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.4%. DTE Energy's dividend payout ratio is 73.73%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DTE. Morgan Stanley decreased their price objective on DTE Energy from $153.00 to $148.00 and set an "overweight" rating on the stock in a research note on Friday, August 21st. Mizuho cut their target price on shares of DTE Energy from $164.00 to $152.00 and set an "outperform" rating for the company in a research note on Thursday. Truist Financial reduced their target price on shares of DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. Finally, Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One investment 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 company. According to MarketBeat, the stock 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.

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