LifeWealth Investments LLC Takes $338,000 Position in DTE Energy Company (NYSE:DTE)

LifeWealth Investments LLC acquired a new position in shares of DTE Energy Company (NYSE:DTE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,442 shares of the utilities provider’s stock, valued at approximately $338,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Inscription Capital LLC purchased a new position in shares of DTE Energy during the 1st quarter worth $416,000. Stephens Consulting LLC grew its holdings in shares of DTE Energy by 135.2% in the first quarter. Stephens Consulting LLC now owns 9,036 shares of the utilities provider’s stock valued at $1,249,000 after purchasing an additional 5,194 shares during the period. QRG Capital Management Inc. increased its position in DTE Energy by 9.0% during the first quarter. QRG Capital Management Inc. now owns 34,897 shares of the utilities provider’s stock worth $4,825,000 after purchasing an additional 2,884 shares during the last quarter. Sagespring Wealth Partners LLC raised its stake in DTE Energy by 14.0% during the first quarter. Sagespring Wealth Partners LLC now owns 3,309 shares of the utilities provider’s stock worth $458,000 after purchasing an additional 406 shares during the period. Finally, Cyndeo Wealth Partners LLC boosted its holdings in DTE Energy by 8.2% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 59,452 shares of the utilities provider’s stock valued at $8,220,000 after purchasing an additional 4,515 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DTE. Morgan Stanley dropped their price target on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. BMO Capital Markets increased their price objective on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research report on Monday, April 21st. Guggenheim lifted their target price 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 note on Friday, May 2nd. Finally, Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.93.

DTE Energy Price Performance

DTE opened at $132.00 on Wednesday. The stock’s 50-day moving average price is $134.92 and its 200 day moving average price is $129.30. DTE Energy Company has a 12-month low of $108.40 and a 12-month high of $140.39. The firm has a market cap of $27.39 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.41 and a beta of 0.45. The company has a current ratio of 0.87, a quick ratio of 0.59 and a debt-to-equity ratio of 1.82.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. As a group, sell-side analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $1.09 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.36 annualized dividend and a yield of 3.30%. DTE Energy’s dividend payout ratio is presently 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.