WNY Asset Management LLC Invests $2.06 Million in DTE Energy Company $DTE

Key Points

• WNY Asset Management acquired 14,119 DTE Energy shares worth approximately $2.06 million in the first quarter. Institutional investors own 76.06% of the company.
• DTE Energy reported quarterly earnings of $1.32 per share, beating analyst expectations of $1.14, on revenue of $6.74 billion. Analysts forecast full-year earnings of $7.71 per share.
• The company declared a quarterly dividend of $1.165 per share, or $4.66 annually, representing a 3.3% yield. Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $158.46.

WNY Asset Management LLC acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,119 shares of the utilities provider's stock, valued at approximately $2,064,000.

Other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in DTE Energy in the fourth quarter worth about $25,000. Quest 10 Wealth Builders Inc. grew its stake in shares of DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 181 shares during the period. Torren Management LLC purchased a new stake in DTE Energy in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC bought a new stake in DTE Energy during the 4th quarter worth approximately $29,000. Finally, Key Financial Inc bought a new stake in DTE Energy during the 1st quarter worth approximately $29,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Performance

DTE stock opened at $141.94 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The business's fifty day simple moving average is $147.60 and its two-hundred day simple moving average is $144.78. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.09 and a beta of 0.38.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same period last year, the company earned $1.36 earnings per share. Analysts predict that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed 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 is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a yield of 3.3%. DTE Energy's dividend payout ratio (DPR) is presently 73.73%.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $143.72, for a total value of $143,720.00. Following the completion of the sale, the vice president directly owned 6,233 shares of the company's stock, valued at $895,806.76. The trade was a 13.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of research reports. Weiss Ratings upgraded shares of DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. Truist Financial reduced their target price on DTE Energy from $165.00 to $158.00 and set a "buy" rating on the stock in a report on Monday, May 18th. TD Cowen assumed 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. Bank of America reaffirmed a "buy" rating on shares of DTE Energy in a report on Wednesday, April 22nd. Finally, Morgan Stanley reissued an "overweight" rating on shares of DTE Energy in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.46.

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.

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