Stack Financial Management Inc Makes New $17.27 Million Investment in DTE Energy Company $DTE

Key Points

• Stack Financial Management acquired 113,354 DTE Energy shares worth approximately $17.27 million during the second quarter, while institutional investors collectively own 76.06% of the company.
• DTE Energy exceeded quarterly earnings expectations, reporting $1.32 EPS versus the $1.14 consensus estimate and $6.74 billion in revenue; analysts expect $7.71 EPS for the current fiscal year.
• The company declared a quarterly dividend of $1.165 per share, equivalent to $4.66 annually and a 3.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $158.62.

Stack Financial Management Inc bought a new stake in DTE Energy Company (NYSE:DTE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 113,354 shares of the utilities provider's stock, valued at approximately $17,272,000. Stack Financial Management Inc owned 0.05% of DTE Energy as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Empowered Funds LLC raised its holdings in DTE Energy by 200.7% in the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider's stock valued at $1,370,000 after buying an additional 6,614 shares during the period. Woodline Partners LP boosted its stake in DTE Energy by 40.8% during the first quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider's stock worth $2,421,000 after buying an additional 5,072 shares during the period. Intech Investment Management LLC increased its position in shares of DTE Energy by 6.5% during the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider's stock valued at $1,754,000 after acquiring an additional 773 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of DTE Energy during the second quarter valued at about $203,000. Finally, Jump Financial LLC increased its position in shares of DTE Energy by 154.5% during the second quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider's stock valued at $1,679,000 after acquiring an additional 7,696 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Trading Up 0.9%

DTE opened at $140.84 on Friday. The business has a fifty day moving average price of $146.83 and a 200 day moving average price of $145.14. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74. The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 3.05 and a beta of 0.38.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates 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 company earned $1.36 EPS. Sell-side analysts expect that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.3%. DTE Energy's dividend payout ratio (DPR) is 73.73%.

Wall Street Analyst Weigh In

DTE has been the topic of several recent analyst reports. Mizuho decreased their price objective on shares of DTE Energy from $165.00 to $164.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. BMO Capital Markets boosted their target price on DTE Energy from $148.00 to $150.00 and gave the company a "market perform" rating in a research report on Wednesday, July 29th. Morgan Stanley restated an "overweight" rating on shares of DTE Energy in a research note on Wednesday, July 22nd. Finally, Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, DTE Energy has a consensus rating of "Moderate Buy" and an average target price of $158.62.

About DTE Energy

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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