Strs Ohio Takes $1.92 Million Position in DTE Energy Company $DTE

Key Points

• Strs Ohio acquired a new stake of 13,851 shares in DTE Energy Company, valued at approximately $1.9 million, during the first quarter.
• Recent analyst evaluations have resulted in a consensus rating of "Moderate Buy" for DTE Energy, with a price target averaging around $144.25.
• DTE Energy has announced a quarterly dividend of $1.09 per share, which will be paid on October 15th, representing an annualized yield of 3.3%.

Strs Ohio bought a new stake in DTE Energy Company (NYSE:DTE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,851 shares of the utilities provider's stock, valued at approximately $1,915,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in DTE Energy in the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy during the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy during the 1st quarter valued at $28,000. SouthState Corp bought a new position in DTE Energy during the 1st quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in DTE Energy during the 1st quarter valued at approximately $31,000. 76.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on DTE. Barclays boosted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Citigroup restated a "buy" rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. BMO Capital Markets increased their price target on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. JPMorgan Chase & Co. raised their price target on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley set a $140.00 price objective on DTE Energy and gave the stock an "overweight" rating in a report on Thursday, August 21st. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.25.

DTE Energy Stock Up 0.4%

Shares of NYSE DTE traded up $0.56 during midday trading on Friday, hitting $135.67. The stock had a trading volume of 1,712,394 shares, compared to its average volume of 963,972. The company has a market cap of $28.16 billion, a P/E ratio of 19.52, a PEG ratio of 2.68 and a beta of 0.42. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $142.05. The business's 50 day moving average is $137.55 and its 200-day moving average is $135.26. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

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

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. The trade was a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by company insiders.

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.