Vise Technologies Inc. Makes New Investment in DTE Energy Company $DTE

Key Points

• Vise Technologies purchased 13,229 shares of DTE Energy in the second quarter, worth approximately $2.0 million. Institutional investors collectively own 76.06% of the company.
• DTE shares opened at $135.28, down 2.1%, while the utility reported quarterly EPS of $1.32—beating analyst estimates of $1.14—and revenue of $6.74 billion.
• DTE announced a quarterly dividend of $1.165 per share, equating to an annualized $4.66 payout and a 3.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $158.46.

Vise Technologies Inc. purchased a new stake in DTE Energy Company (NYSE:DTE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,229 shares of the utilities provider's stock, valued at approximately $2,016,000.

A number of other large investors have also recently modified their holdings of the business. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of DTE Energy in the second quarter worth approximately $941,000. Asahi Life Asset Management CO. LTD. purchased a new stake in DTE Energy in the second quarter valued at approximately $425,000. Csenge Advisory Group bought a new stake in DTE Energy during the second quarter valued at approximately $255,000. Johnson Financial Group Inc. bought a new stake in DTE Energy during the second quarter valued at approximately $87,000. Finally, West Family Investments Inc. purchased a new position in DTE Energy in the 2nd quarter worth approximately $648,000. Institutional investors own 76.06% of the company's stock.

DTE Energy Stock Down 2.1%

Shares of DTE opened at $135.28 on Friday. The firm has a market cap of $28.15 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.00 and a beta of 0.38. The stock has a 50 day simple moving average of $146.13 and a two-hundred day simple moving average of $145.26. 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 1 year low of $126.23 and a 1 year high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period last year, the business earned $1.36 earnings per share. On average, analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm 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 dividend of $1.165 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. DTE Energy's dividend payout ratio (DPR) is currently 73.73%.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of research analyst reports. Truist Financial decreased their price target on shares of DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. BMO Capital Markets lifted their price objective on shares of DTE Energy from $148.00 to $150.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. Barclays cut their target price on shares of DTE Energy from $156.00 to $154.00 and set an "equal weight" rating for the company in a research report on Monday, May 4th. TD Cowen started coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a "hold" rating and a $166.00 target price on the stock. Finally, Morgan Stanley lowered their price target on DTE Energy from $153.00 to $148.00 and set an "overweight" rating on the stock in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $158.46.

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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