Founders Financial Securities LLC Acquires 255 Shares of DTE Energy (NYSE:DTE)

Founders Financial Securities LLC boosted its holdings in DTE Energy (NYSE:DTE) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,411 shares of the utilities provider’s stock after purchasing an additional 255 shares during the quarter. Founders Financial Securities LLC’s holdings in DTE Energy were worth $823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. International Assets Investment Management LLC bought a new position in DTE Energy in the 4th quarter worth approximately $6,606,000. Merit Financial Group LLC boosted its position in shares of DTE Energy by 19.6% during the 4th quarter. Merit Financial Group LLC now owns 2,432 shares of the utilities provider’s stock valued at $268,000 after acquiring an additional 399 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of DTE Energy by 26.1% during the 4th quarter. Private Advisor Group LLC now owns 11,486 shares of the utilities provider’s stock valued at $1,266,000 after acquiring an additional 2,380 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of DTE Energy during the 4th quarter valued at approximately $273,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of DTE Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,208,462 shares of the utilities provider’s stock valued at $133,245,000 after acquiring an additional 27,611 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DTE has been the subject of a number of research reports. Wells Fargo & Company increased their target price on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. KeyCorp increased their target price on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Finally, Bank of America raised their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy 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 $123.92.

DTE Energy Stock Performance

DTE stock opened at $126.32 on Thursday. 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 business’s fifty day simple moving average is $118.35 and its two-hundred day simple moving average is $113.62. DTE Energy has a twelve month low of $90.14 and a twelve month high of $127.59. The firm has a market cap of $26.14 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.29 and a beta of 0.66.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the firm posted $0.99 earnings per share. Analysts predict that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm 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 is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.23%. DTE Energy’s payout ratio is 66.78%.

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.