Summit Financial Consulting LLC bought a new stake in DTE Energy Company (NYSE:DTE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,448 shares of the utilities provider's stock, valued at approximately $339,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Olde Wealth Management LLC bought a new stake in DTE Energy during the 1st quarter worth about $27,000. OneDigital Investment Advisors LLC raised its stake in shares of DTE Energy by 2.0% during the first quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock worth $542,000 after buying an additional 78 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in DTE Energy by 18.8% in the first quarter. Checchi Capital Advisers LLC now owns 2,055 shares of the utilities provider's stock valued at $284,000 after buying an additional 325 shares during the period. Principal Financial Group Inc. boosted its stake in DTE Energy by 2.9% in the first quarter. Principal Financial Group Inc. now owns 261,103 shares of the utilities provider's stock valued at $36,103,000 after acquiring an additional 7,297 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in DTE Energy by 28.5% during the 1st quarter. First Horizon Advisors Inc. now owns 527 shares of the utilities provider's stock worth $73,000 after acquiring an additional 117 shares during the period. Institutional investors own 76.06% of the company's stock.
DTE Energy Stock Down 0.7%
Shares of NYSE:DTE traded down $0.88 during midday trading on Monday, reaching $131.06. The company had a trading volume of 295,828 shares, compared to its average volume of 1,405,708. DTE Energy Company has a 1-year low of $108.40 and a 1-year high of $140.39. The stock has a market cap of $27.20 billion, a PE ratio of 17.72, a P/E/G ratio of 2.40 and a beta of 0.44. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. The business's 50 day moving average price is $134.60 and its 200 day moving average price is $130.32.
DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.12. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. During the same quarter in the previous year, the firm earned $1.67 EPS. Research analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.
DTE Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is presently 58.92%.
Analysts Set New Price Targets
DTE has been the topic of several recent research reports. Citigroup restated a "buy" rating and issued a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Wells Fargo & Company increased their price target on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Morgan Stanley lowered their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, BMO Capital Markets lifted their price target on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, DTE Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.93.
Read Our Latest Research Report on DTE
About DTE Energy
(
Free Report)
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.
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