WNY Asset Management LLC Takes Position in DTE Energy Company $DTE

Key Points

• WNY Asset Management acquired 14,124 shares of DTE Energy in the second quarter, valued at approximately $2.15 million. Institutional investors collectively own 76.06% of the company.
• DTE Energy reported quarterly EPS of $1.32, exceeding analyst estimates of $1.14, on revenue of $6.74 billion. Analysts expect full-year EPS of approximately $7.71.
• The company declared a quarterly dividend of $1.165 per share, equivalent to an annualized $4.66 payout and a 3.4% yield. Wall Street’s consensus rating is “Moderate Buy,” with an average price target of $157.54.

WNY Asset Management LLC acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,124 shares of the utilities provider's stock, valued at approximately $2,152,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DTE. Laurel Wealth Advisors LLC purchased a new stake in shares of DTE Energy during the fourth quarter worth about $25,000. Torren Management LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in DTE Energy in the 4th quarter worth approximately $29,000. Key Financial Inc acquired a new stake in DTE Energy in the 1st quarter worth approximately $29,000. Finally, First Bancorp Inc ME purchased a new stake in DTE Energy during the 2nd quarter worth approximately $29,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of DTE opened at $136.11 on Friday. The business's 50-day moving average is $145.21 and its two-hundred day moving average is $145.37. The company has a market capitalization of $28.32 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.99 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy Company has a fifty-two week low of $126.23 and a fifty-two week high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter last year, the business posted $1.36 EPS. Research 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 declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be given a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy's dividend payout ratio (DPR) is currently 73.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DTE. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a report on Thursday, July 9th. TD Cowen assumed coverage on DTE Energy in a research report on Tuesday, July 7th. They issued a "hold" rating and a $166.00 target price on the stock. BMO Capital Markets raised their target price on DTE Energy from $148.00 to $150.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price target on DTE Energy from $155.00 to $162.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. One equities research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $157.54.

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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