Yaupon Capital Management LP Purchases 84,325 Shares of DTE Energy Company $DTE

Key Points

• Yaupon Capital Management LP significantly increased its stake in DTE Energy by 78.9% during the first quarter, owning approximately $26.44 million worth of shares.
• A series of institutional investors, including Goldman Sachs and JPMorgan Chase, have also raised their positions in DTE Energy, with overall institutional ownership at 76.06%.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, with an annualized yield of 3.2%, payable on October 15th to investors of record.

Yaupon Capital Management LP grew its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 78.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 191,200 shares of the utilities provider's stock after purchasing an additional 84,325 shares during the quarter. DTE Energy comprises 1.4% of Yaupon Capital Management LP's portfolio, making the stock its 19th biggest holding. Yaupon Capital Management LP owned approximately 0.09% of DTE Energy worth $26,437,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in DTE Energy during the first quarter worth about $25,000. Olde Wealth Management LLC acquired a new stake in DTE Energy during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in DTE Energy during the first quarter valued at approximately $28,000. SouthState Corp acquired a new stake in DTE Energy during the first quarter valued at approximately $29,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in DTE Energy during the first quarter valued at approximately $31,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DTE shares. JPMorgan Chase & Co. lifted their price objective on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Citigroup reaffirmed a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Morgan Stanley set a $140.00 price objective on DTE Energy and gave the company an "overweight" rating in a report on Thursday, August 21st. Barclays lifted their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, BMO Capital Markets lifted their price objective on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $144.25.

Insider Activity at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the sale, the vice president owned 4,153 shares in the company, valued at approximately $583,621.09. The trade was a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company's stock.

DTE Energy Trading Down 0.0%

DTE stock traded down $0.02 during trading on Friday, hitting $136.74. The company had a trading volume of 940,281 shares, compared to its average volume of 907,431. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $137.23 and a 200-day moving average price of $135.18. DTE Energy Company has a 12 month low of $115.59 and a 12 month high of $142.05. The stock has a market cap of $28.39 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.72 and a beta of 0.42.

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

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $1.09 per share. The ex-dividend date is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. DTE Energy's payout ratio is presently 62.73%.

DTE Energy Company Profile

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.