Rhumbline Advisers Purchases 40,100 Shares of DTE Energy (NYSE:DTE)

Rhumbline Advisers raised its position in shares of DTE Energy (NYSE:DTE - Free Report) by 11.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 376,235 shares of the utilities provider's stock after buying an additional 40,100 shares during the quarter. Rhumbline Advisers owned 0.18% of DTE Energy worth $52,022,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DTE. Allworth Financial LP lifted its position in shares of DTE Energy by 16.0% in the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider's stock worth $293,000 after purchasing an additional 336 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of DTE Energy by 72.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock worth $760,000 after purchasing an additional 2,642 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of DTE Energy by 39.2% in the fourth 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 in the last quarter. M&T Bank Corp lifted its position in shares of DTE Energy by 4.4% in the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider's stock worth $1,139,000 after purchasing an additional 395 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of DTE Energy by 2.0% in the fourth quarter. Truist Financial Corp now owns 12,027 shares of the utilities provider's stock worth $1,452,000 after purchasing an additional 240 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on DTE shares. Guggenheim increased their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Barclays downgraded DTE Energy from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. BMO Capital Markets increased their price objective on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. Citigroup restated a "buy" rating and issued a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Finally, Wells Fargo & Company increased their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of "Moderate Buy" and a consensus target price of $140.93.

DTE Energy Stock Performance

DTE stock traded up $1.15 during midday trading on Friday, hitting $133.85. 1,419,916 shares of the company traded hands, compared to its average volume of 1,259,503. DTE Energy has a twelve month low of $108.40 and a twelve month high of $140.39. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The business has a 50 day simple moving average of $134.57 and a 200-day simple moving average of $128.82. The stock has a market capitalization of $27.78 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 2.41 and a beta of 0.45.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same quarter last year, the company posted $1.67 earnings per share. As a group, equities research analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 annualized dividend and a dividend yield of 3.26%. DTE Energy's payout ratio is 58.92%.

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.