&Partners Takes Position in DTE Energy (NYSE:DTE)

&Partners bought a new stake in DTE Energy (NYSE:DTE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,401 shares of the utilities provider’s stock, valued at approximately $489,000.

Several other hedge funds have also bought and sold shares of DTE. International Assets Investment Management LLC acquired a new stake in shares of DTE Energy in the fourth quarter valued at approximately $6,606,000. Federated Hermes Inc. boosted its position in DTE Energy by 27.0% during the fourth quarter. Federated Hermes Inc. now owns 1,100 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 234 shares during the period. abrdn plc increased its holdings in shares of DTE Energy by 1.2% in the fourth quarter. abrdn plc now owns 47,902 shares of the utilities provider’s stock valued at $5,282,000 after purchasing an additional 570 shares during the last quarter. Signaturefd LLC increased its holdings in shares of DTE Energy by 16.0% in the fourth quarter. Signaturefd LLC now owns 2,924 shares of the utilities provider’s stock valued at $322,000 after purchasing an additional 403 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of DTE Energy by 13.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,853 shares of the utilities provider’s stock valued at $756,000 after purchasing an additional 797 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DTE shares. Scotiabank lifted their target price on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday. BMO Capital Markets boosted their price objective on DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday, July 15th. Wells Fargo & Company increased their target price on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, Morgan Stanley increased their price objective on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.82.

DTE Energy Stock Performance

DTE opened at $123.82 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. DTE Energy has a 52-week low of $90.14 and a 52-week high of $126.76. The firm has a market cap of $25.62 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 2.27 and a beta of 0.66. The business’s fifty day moving average is $116.10 and its 200-day moving average is $112.49.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period last year, the firm earned $0.99 EPS. Sell-side analysts expect that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.30%. DTE Energy’s dividend payout ratio is currently 66.78%.

Insiders Place Their Bets

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the transaction, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

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.