Spirit of America Management Corp NY Has $1.44 Million Stock Position in DTE Energy Company (NYSE:DTE)

Spirit of America Management Corp NY lifted its stake in shares of DTE Energy Company (NYSE:DTE) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,400 shares of the utilities provider’s stock after purchasing an additional 400 shares during the period. Spirit of America Management Corp NY’s holdings in DTE Energy were worth $1,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its position in DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider’s stock worth $1,250,000 after buying an additional 78 shares during the period. EverSource Wealth Advisors LLC increased its position in DTE Energy by 8.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after buying an additional 90 shares during the period. My Legacy Advisors LLC increased its position in DTE Energy by 2.4% during the 1st quarter. My Legacy Advisors LLC now owns 4,132 shares of the utilities provider’s stock worth $571,000 after buying an additional 95 shares during the period. Bernard Wealth Management Corp. increased its position in DTE Energy by 1.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 10,190 shares of the utilities provider’s stock worth $1,409,000 after buying an additional 101 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in DTE Energy by 0.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,281 shares of the utilities provider’s stock worth $3,294,000 after buying an additional 110 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DTE. Wells Fargo & Company increased their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. BMO Capital Markets increased their target price on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a report on Monday, April 21st. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Friday, May 16th. Citigroup reissued a “buy” rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Finally, Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $140.93.

DTE Energy Stock Performance

NYSE:DTE opened at $131.73 on Friday. The stock’s 50-day simple moving average is $135.00 and its 200 day simple moving average is $129.37. The firm has a market capitalization of $27.34 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.39 and a beta of 0.45. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. DTE Energy Company has a twelve month low of $108.40 and a twelve month high of $140.39.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating the consensus estimate 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 13.00% and a net margin of 11.25%. During the same period last year, the firm posted $1.67 earnings per share. On average, analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.31%. DTE Energy’s dividend payout ratio (DPR) 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.