Vestcor Inc Purchases 4,428 Shares of DTE Energy Company (NYSE:DTE)

Key Points

• Vestcor Inc has increased its stake in DTE Energy by 119.6%, owning 8,130 shares valued at approximately $1.12 million as of the end of the first quarter.
• Analysts have mixed ratings on DTE Energy, with target prices ranging from $134.00 to $151.00, reflecting a general consensus of a Moderate Buy rating.
• DTE Energy recently declared a quarterly dividend of $1.09 per share, with a dividend yield of 3.1%, emphasizing the company's commitment to returning value to shareholders.

Vestcor Inc grew its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 119.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,130 shares of the utilities provider's stock after purchasing an additional 4,428 shares during the quarter. Vestcor Inc's holdings in DTE Energy were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cloud Capital Management LLC bought a new position in shares of DTE Energy during the 1st quarter worth about $25,000. Olde Wealth Management LLC bought a new position in shares of DTE Energy during the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of DTE Energy during the 1st quarter worth about $28,000. N.E.W. Advisory Services LLC bought a new position in shares of DTE Energy during the 1st quarter worth about $31,000. Finally, Mattson Financial Services LLC bought a new position in shares of DTE Energy during the 4th quarter worth about $38,000. Institutional investors own 76.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DTE. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Barclays lifted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Citigroup reissued a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Finally, Morgan Stanley cut their price target on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, DTE Energy has a consensus rating of "Moderate Buy" and a consensus target price of $141.53.

DTE Energy Trading Up 1.7%

Shares of NYSE:DTE traded up $2.40 during trading on Monday, reaching $140.91. The stock had a trading volume of 1,401,441 shares, compared to its average volume of 1,462,588. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $141.12. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The firm's fifty day moving average is $134.44 and its 200 day moving average is $132.45. The stock has a market cap of $29.25 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 2.75 and a beta of 0.42.

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

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio is currently 62.73%.

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.