113,354 Shares in DTE Energy Company $DTE Bought by Stack Financial Management Inc

Stack Financial Management Inc bought a new stake in DTE Energy Company (NYSE:DTE) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 113,354 shares of the utilities provider’s stock, valued at approximately $17,272,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DTE. Millennium Management LLC boosted its position in shares of DTE Energy by 227.4% during the 4th quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after acquiring an additional 1,895,631 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in DTE Energy during the fourth quarter worth approximately $139,423,000. Cohen & Steers Inc. purchased a new stake in DTE Energy during the fourth quarter worth approximately $125,604,000. Vanguard Group Inc. boosted its holdings in DTE Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock valued at $3,392,888,000 after purchasing an additional 766,499 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in DTE Energy by 176.5% in the second quarter. Raymond James Financial Inc. now owns 1,015,208 shares of the utilities provider’s stock valued at $134,474,000 after purchasing an additional 648,007 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Price Performance

DTE Energy stock opened at $140.84 on Friday. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The business has a 50 day simple moving average of $146.83 and a 200-day simple moving average of $145.14. The stock has a market capitalization of $29.31 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 3.05 and a beta of 0.38.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the company earned $1.36 earnings per share. Equities analysts predict that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a $1.165 dividend. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is 73.73%.

Wall Street Analyst Weigh In

DTE has been the topic of several recent analyst reports. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. BMO Capital Markets increased their target price on shares of DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Bank of America reaffirmed a “buy” rating on shares of DTE Energy in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $158.62.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.