UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in DTE Energy Company $DTE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in DTE Energy Company (NYSE:DTE - Free Report) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 856,033 shares of the utilities provider's stock after buying an additional 47,172 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.41% of DTE Energy worth $130,434,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. New Mexico Educational Retirement Board increased its stake in shares of DTE Energy by 7.3% during the second quarter. New Mexico Educational Retirement Board now owns 10,296 shares of the utilities provider's stock worth $1,569,000 after buying an additional 700 shares during the period. Mufg Securities Americas Inc. lifted its stake in DTE Energy by 9.0% in the second quarter. Mufg Securities Americas Inc. now owns 6,266 shares of the utilities provider's stock worth $955,000 after acquiring an additional 519 shares during the last quarter. Van ECK Associates Corp grew its holdings in DTE Energy by 139.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,458 shares of the utilities provider's stock worth $527,000 after acquiring an additional 2,016 shares in the last quarter. Nissay Asset Management Corp Japan increased its position in shares of DTE Energy by 3.8% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 28,065 shares of the utilities provider's stock valued at $4,276,000 after purchasing an additional 1,031 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of DTE Energy by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 739,633 shares of the utilities provider's stock valued at $112,913,000 after purchasing an additional 148,496 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on DTE. Morgan Stanley decreased their price objective on shares of DTE Energy from $153.00 to $148.00 and set an "overweight" rating for the company in a research report on Friday, August 21st. BMO Capital Markets cut their price target on DTE Energy from $150.00 to $143.00 and set a "market perform" rating on the stock in a research note on Friday, August 28th. TD Cowen initiated coverage on DTE Energy in a report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price target for the company. Truist Financial lowered their price objective on DTE Energy from $166.00 to $160.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Finally, Mizuho dropped their price objective on DTE Energy from $164.00 to $152.00 and set an "outperform" rating on the stock in a report on Thursday, August 27th. One investment 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $157.00.

DTE Energy Trading Up 0.3%

NYSE DTE opened at $136.04 on Wednesday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The firm's fifty day moving average price is $144.49 and its 200 day moving average price is $145.33. The company has a market capitalization of $28.31 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 2.95 and a beta of 0.37. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $3.36 billion. During the same period in the previous year, the company earned $1.36 earnings per share. On average, 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. Stockholders of record on Monday, September 21st will be issued a $1.165 dividend. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's payout ratio is presently 73.73%.

DTE Energy 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.

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Company (NYSE:DTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source