HBK Sorce Advisory LLC Acquires Shares of 1,922 DTE Energy (NYSE:DTE)

HBK Sorce Advisory LLC bought a new position in shares of DTE Energy (NYSE:DTE) during the second quarter, Holdings Channel reports. The firm bought 1,922 shares of the utilities provider’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aptus Capital Advisors LLC increased its holdings in DTE Energy by 3.7% during the second quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider’s stock worth $292,000 after buying an additional 94 shares during the last quarter. Center for Financial Planning Inc. increased its stake in shares of DTE Energy by 2.2% during the 1st quarter. Center for Financial Planning Inc. now owns 4,972 shares of the utilities provider’s stock worth $558,000 after purchasing an additional 105 shares during the last quarter. TIAA Trust National Association increased its stake in shares of DTE Energy by 2.9% during the 1st quarter. TIAA Trust National Association now owns 3,771 shares of the utilities provider’s stock worth $423,000 after purchasing an additional 106 shares during the last quarter. S.A. Mason LLC raised its holdings in shares of DTE Energy by 10.5% in the 2nd quarter. S.A. Mason LLC now owns 1,120 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 106 shares during the period. Finally, Texas Permanent School Fund Corp lifted its stake in DTE Energy by 0.3% in the first quarter. Texas Permanent School Fund Corp now owns 41,908 shares of the utilities provider’s stock valued at $4,700,000 after purchasing an additional 107 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 1.2 %

DTE opened at $125.95 on Monday. The firm has a market capitalization of $26.06 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. DTE Energy has a one year low of $90.14 and a one year high of $127.59. The company has a fifty day moving average price of $120.40 and a 200-day moving average price of $114.49. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the business earned $0.99 earnings per share. Equities research analysts expect that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Scotiabank raised their target price on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective on the stock. Mizuho increased their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Morgan Stanley boosted their price target on shares of DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Barclays raised their price objective on shares of DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

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.