Probity Advisors Inc. Boosts Stock Position in DTE Energy (NYSE:DTE)

Probity Advisors Inc. boosted its holdings in DTE Energy (NYSE:DTE) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 6,586 shares of the utilities provider’s stock after acquiring an additional 214 shares during the period. Probity Advisors Inc.’s holdings in DTE Energy were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Siemens Fonds Invest GmbH purchased a new position in DTE Energy in the fourth quarter worth $1,001,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in DTE Energy in the fourth quarter worth $9,628,000. Brooklyn FI LLC purchased a new position in DTE Energy in the fourth quarter worth $1,145,000. Bernard Wealth Management Corp. purchased a new position in DTE Energy in the fourth quarter worth $1,218,000. Finally, Financial Advisory Corp purchased a new position in DTE Energy in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DTE. Wells Fargo & Company upped their price target on DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Citigroup reaffirmed a “buy” rating and set a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a research report on Friday. Guggenheim upped their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Evercore ISI upped their price target on DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their price target on DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.93.

DTE Energy Stock Performance

NYSE:DTE opened at $136.41 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a 52-week low of $108.40 and a 52-week high of $140.39. The firm has a market cap of $28.31 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.41 and a beta of 0.47. The business’s fifty day moving average is $134.80 and its 200 day moving average is $127.98.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. During the same period in the prior year, the company earned $1.67 EPS. Research analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $1.09 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.20%. DTE Energy’s dividend payout ratio is currently 58.92%.

DTE Energy 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.