Massachusetts Financial Services Co. MA Acquires 59,811 Shares of DTE Energy (NYSE:DTE)

Massachusetts Financial Services Co. MA lifted its holdings in shares of DTE Energy (NYSE:DTE) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,667,111 shares of the utilities provider’s stock after acquiring an additional 59,811 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.81% of DTE Energy worth $185,066,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

DTE has been the topic of several analyst reports. Mizuho boosted their price target on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Barclays upped their target price on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Scotiabank lifted their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a 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 for the company. Finally, BMO Capital Markets lifted their target price on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average target price of $127.58.

DTE Energy Price Performance

DTE opened at $125.70 on Wednesday. The firm has a 50-day moving average price of $121.09 and a 200-day moving average price of $114.74. DTE Energy has a twelve month low of $90.14 and a twelve month high of $127.59. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $26.01 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.28 and a beta of 0.67.

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

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.25%. DTE Energy’s dividend payout ratio is currently 66.78%.

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.